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Tokio Marine & Nichido Fire issuing domestic subordinated bonds

Tokio Marine & Nichido Fire Insurance Co. Ltd. is issuing ¥200 billion of domestic subordinated unsecured bonds maturing Dec. 24, 2079.

The securities will have a fixed rate of 0.96% per annum until Dec. 24, 2029, and a floating rate with step-up from the next day.

The bonds are callable on each interest payment date on or after Dec. 24, 2029.

As of Dec. 16, US$1 was equivalent to ¥109.67.