Tokio Marine : Issuance of Domestic Subordinated Bonds(126.9KB)
December 17, 2019 at 02:11 am EST
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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.
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Disclaimer
Tokio Marine Holdings Inc. published this content on 17 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 December 2019 07:10:03 UTC
Tokio Marine Holdings, Inc. is a holding company organized around 3 areas of activity:
- non life insurance (50.3% of net sales);
- life insurance (14.2%);
- other (1.2%): primarily financial services.
The remaining sales (34.3%) concerns the international insurance activities.