COLUMBUS, Ga., Nov. 4, 2014 /PRNewswire/ -- Aflac Incorporated
(NYSE: AFL) announced today that it has priced $750 million (par value) of 10-year fixed-rate,
senior notes with a coupon of 3.625%. The 10-year notes will be
issued at a price of 99.899 with a re-offer yield of 3.637%. The
company intends to use the net proceeds from this offering for
general corporate purposes, including capital contributions to
subsidiaries, if needed. The transaction is expected to settle on
November 7, 2014, subject to
customary closing conditions.
Commenting on the pricing of the debt issue, Aflac Incorporated
President and Chief Financial Officer Kriss
Cloninger III commented: "This debt issuance allows us to
take advantage of favorable market conditions and further
strengthens our liquidity and capital position."
Goldman Sachs & Co., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, and
Wells Fargo Securities, LLC served as joint active book-running
managers for the transaction.
This offering is being made pursuant to an effective shelf
registration statement previously filed by Aflac Incorporated with
the Securities and Exchange Commission (SEC) and only by means of a
prospectus supplement and accompanying prospectus. You may obtain
the registration statement and other documents that Aflac
Incorporated has filed with the SEC that contain more complete
information about Aflac Incorporated and this offering by
contacting:
Goldman, Sachs & Co.
200 West Street
New York, NY 10282-2198
866.471.2526
Mizuho Securities USA Inc.
320 Park Avenue
12th Floor
New York, NY 10022
866.271.7403
Morgan Stanley & Co. LLC
1585 Broadway
New York, NY 10036
866.718.1649
Wells Fargo Securities, LLC
608 2nd Avenue
South Minneapolis, MN 55402
Attn: WFS Customer Service
800.645.3751
Alternatively, these documents may be obtained by visiting the
SEC website at www.sec.gov.
This press release shall not constitute an offer to sell nor the
solicitation of an offer to buy any of these securities, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
About Aflac
When a policyholder gets sick or hurt, Aflac pays cash benefits
fast. For nearly six decades, Aflac insurance policies have given
policyholders the opportunity to focus on recovery, not financial
stress. In the United States,
Aflac is the leading provider of voluntary insurance at the
worksite. In Japan, Aflac is the
number one life insurance company in terms of individual policies
in force. Aflac individual and group insurance products help
provide protection to more than 50 million people worldwide. For
eight consecutive years, Aflac has been recognized by Ethisphere
magazine as one of the World's Most Ethical Companies. In 2014,
FORTUNE magazine recognized Aflac as one of the 100 Best Companies
to Work For in America for the 16th consecutive year. Also, in
2014, FORTUNE magazine included Aflac on its list of Most Admired
Companies for the 13th time, ranking the company number one in the
life and health insurance category. Aflac Incorporated is a Fortune
500 company listed on the New York Stock Exchange under the symbol
AFL. To find out more about Aflac, visit aflac.com or
espanol.aflac.com.
Forward-Looking Information
The Private Securities Litigation Reform Act of 1995 provides
a "safe harbor" to encourage companies to provide prospective
information, so long as those informational statements are
identified as forward-looking and are accompanied by meaningful
cautionary statements identifying important factors that could
cause actual results to differ materially from those included in
the forward-looking statements. We desire to take advantage of
these provisions. This document contains cautionary statements
identifying important factors that could cause actual results to
differ materially from those projected herein, and in any other
statements made by company officials in communications with the
financial community and contained in documents filed with the
Securities and Exchange Commission (SEC).
Forward-looking statements are not based on historical
information and relate to future operations, strategies, financial
results or other developments. Furthermore, forward-looking
information is subject to numerous assumptions, risks and
uncertainties. In particular, statements containing words such as
"expect," "anticipate," "believe," "goal," "objective," "may,"
"should," "estimate," "intends," "projects," "will," "assumes,"
"potential," "target" or similar words as well as specific
projections of future results, generally qualify as
forward-looking. Aflac undertakes no obligation to update such
forward-looking statements. We caution readers that the following
factors, in addition to other factors mentioned from time to time,
could cause actual results to differ materially from those
contemplated by the forward-looking statements: difficult
conditions in global capital markets and the economy; governmental
actions for the purpose of stabilizing the financial markets;
defaults and credit downgrades of securities in our investment
portfolio; exposure to significant financial and capital markets
risk; fluctuations in foreign currency exchange rates; significant
changes in investment yield rates; credit and other risks
associated with Aflac's investment in perpetual securities;
differing judgments applied to investment valuations; significant
valuation judgments in determination of amount of impairments taken
on our investments; limited availability of acceptable
yen-denominated investments; concentration of our investments in
any particular single-issuer or sector concentration of business in
Japan; decline in creditworthiness
of other financial institutions; deviations in actual experience
from pricing and reserving assumptions; subsidiaries' ability to
pay dividends to Aflac Incorporated; changes in law or regulation
by governmental authorities; ability to attract and retain
qualified sales associates and employees; decreases in our
financial strength or debt ratings; ability to continue to develop
and implement improvements in information technology systems;
interruption in telecommunication, information technology and other
operational systems, or a failure to maintain the security,
confidentiality or privacy of sensitive data residing on such
systems; changes in U.S. and/or Japanese accounting standards;
failure to comply with restrictions on patient privacy and
information security; inability to recognize tax benefits
associated with capital loss carryforwards; level and outcome of
litigation; ability to effectively manage key executive succession;
catastrophic events including, but not necessarily limited to,
epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis,
acts of terrorism and damage incidental to such events; ongoing
changes in our industry; events that damage our reputation; and
failure of internal controls or corporate governance policies and
procedures.
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Analyst and investor contact – Robin Y.
Wilkey, 706.596.3264 or 800.235.2667; FAX: 706.324.6330, or
rwilkey@aflac.com
Media contact – Jon Sullivan,
706.763.4813, or jsullivan@aflac.com
SOURCE Aflac Incorporated