MS&AD Insurance Group Holdings Inc. will issue ¥100 billion of subordinated unsecured bonds in two series maturing Dec. 25, 2076.

The first series of 60-year bonds worth ¥70 billion carries a 1.03% coupon until Dec. 26, 2021, then will pay out six-month Japanese yen LIBOR plus 0.87% until Dec. 26, 2026. After that, the bonds will pay out six-month Japanese yen LIBOR plus 1.87% until maturity.

The bonds can be redeemed on or after Dec. 26, 2021.

The second series of bonds worth ¥30 billion carries a 1.24% coupon until Dec. 26, 2026, after which it will pay out six-month Japanese yen LIBOR plus 1.92% until maturity. The bonds can be redeemed on or after Dec. 26, 2026.

The interest payment dates for the bonds are June 26 and Dec. 26 of each year.

The company previously said it planned to raise ¥150 billion of bonds.

As of Dec. 16, US$1 was equivalent to ¥118.32.