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Meiji Yasuda Life issues ¥115B of subordinated notes

Meiji Yasuda Life Insurance Co. issued a total of ¥115 billion worth of subordinated notes in two tranches.

The company issued ¥100 billion worth of subordinated notes due Dec. 15, 2046, and ¥15 billion subordinated notes due Dec. 15, 2051.

The company priced the 2046 notes with a fixed rate coupon of 1.08% and the 2051 notes with a coupon of 1.30%.

The payment date is Dec. 15.

As of Dec. 8, US$1 was equivalent to ¥113.95.