Tokio Marine : Issuance of Domestic Subordinated Bonds(126.9KB)

December 17, 2019

Tokio Marine & Nichido Fire Insurance Co., Ltd.

Issuance of Domestic Subordinated Bonds

Tokio Marine & Nichido Fire Insurance Co., Ltd. (the "Company"; President: Shinichi Hirose), a subsidiary of Tokio Marine Holdings, Inc., hereby announces that it has decided to issue domestic subordinated bonds (the "Bonds").

Details of the Bonds are as follows:

1.	Issuer	Tokio Marine & Nichido Fire Insurance Co., Ltd.
2.	Name	Tokio Marine & Nichido Fire Insurance Co., Ltd. First series of domestic
		subordinated unsecured bonds with interest deferral option and early
		redemption option
3.	Principal amount	200 billion yen
4.	Offering price	100 yen per amount of 100 yen of each bond
5.	Interest rate	Fixed rate of 0.96% per annum until December 24, 2029
		and floating rate with step-up from the day immediately following December
		24, 2029
6.	Maturity	December 24, 2079 (60-year bonds)
		The Bonds are callable on each interest payment date on or after December 24,
		2029 at discretion of the Company, subject to prior approval of the regulatory
		authority, etc.
7.	Subordination	In the event of bankruptcy, etc., the Bonds will be subordinated to all senior
		indebtedness of the Company and shall rank substantially pari passu with the
		subordinated indebtedness of the Company, designated as being equal to the
		Bonds as to priority of liquidation payment, and preferred stock of the Company.
8.	Offering	Public offering in Japan
9.	Payment date	December 24, 2019

This press release has been prepared for the sole purpose of publicly announcing the issuances of the Bonds, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. The Bonds have not been and will not be registered under the United States Securities Act of 1933 (the "Securities Act")., and the Bonds may not be offered or sold in the United States absent registration or an applicable exemption from the registration under the Securities Act. The public offering of the Bonds will not be made in the United States.