Japan Post Insurance Co. Ltd. proposed to issue 30-year subordinated unsecured bonds to raise up to ¥100 billion.
The company said Dec. 19 that it has filed a shelf registration statement for corporate bonds and an amended shelf registration statement with the Kanto Local Finance Bureau for the issuance of subordinated unsecured bonds in a public offering in Japan.
The bonds will have an early redemption option that may be exercised from the 10th year of issuance. The bonds will be issued in denominations of ¥100 million each.
Japan Post Insurance said the issue date, principal amount and interest rate will be determined later.
Daiwa Securities Group Inc., Mizuho Securities Co. Ltd. and Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. are likely to serve as underwriters for the proposed issuance.
As of Dec. 19, US$1 was equivalent to ¥112.20.