Aflac Incorporated completed a ¥74.9 billion ($519 million) SEC-registered offering of senior notes consisting of its 1.726% Senior Notes due 2030, 2.003% Senior Notes due 2032, 2.369% Senior Notes due 2035 and 2.779% Senior Notes due 2040.
The senior notes were offered pursuant to a U.S. shelf registration statement primarily to Japanese qualified institutional investors. Aflac intends to use the proceeds of the offering for general corporate purposes. S&C represented the underwriters, led by Mizuho Securities USA, Morgan Stanley & Co. International and SMBC Nikko Securities America.
Aflac is a leading provider of supplemental health and life insurance in the United States and Japan.
The S&C team consisted of Marion Leydier, Ekaterina Roze and William Merriam. Jeff Hochberg advised on tax matters. Vanessa Blackmore, Ruby Avison and Alex Goulding advised on UK/EEA matters.