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Report: American Family Life to issue ¥60B subordinated bonds

U.S.-based American Family Life Assurance Co. of New York plans to issue about ¥60 billion worth of yen-denominated bonds to take advantage of low interest rates in Japan, The Nikkei reported Oct. 13.

The notes will be issued with a tenure of 30 years, according to the report.

As of Oct. 13, US$1 was equivalent to ¥111.94.