Mitsubishi UFJ Financial Group Inc. is set to issue senior unsecured notes worth US$3.5 billion, Fitch Ratings said in a Feb. 26 report.

The notes are likely to be issued March 2 and are expected to boost the company's total loss-absorbing capacity requirements, which come into effect end-March 2019.

Funds raised from the exercise will be distributed fully to the company's operating subsidiaries.