By Mary-Katherine Stinson
Lexington, Ky., Jan. 26 – Asahi Mutual Life Insurance Co. issued $375 million of 6.9% step-up callable perpetual subordinated bonds (//BBB), according to a listing notice on Thursday.
Proceeds will be used for general corporate purposes and may also be applied towards the repayment of subordinated debt, according to Fitch Ratings.
The bonds will be listed on the Singapore Exchange effective Jan. 27.
The insurance company is based in Tokyo.
| Issuer: | Asahi Mutual Life Insurance Co.
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| Amount: | $375 million
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| Description: | Step-up callable subordinated bonds
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| Maturity: | Perpetual
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| Coupon: | 6.9%
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| Rating: | Fitch: BBB
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| Settlement date: | Jan. 26
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| ISIN: | XS2538738175
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