MS&AD INSURANCE GROUP HOLDINGS, INC. September 29, 2017 | |
Name of Listed Company: | MS&AD Insurance Group Holdings, Inc. |
Name of Representative: | Yasuyoshi Karasawa, President & CEO |
(Securities Code: 8725, Tokyo Stock Exchange and Nagoya Stock Exchange) | |
Contact: | Corporate Communications and Investor Relations Dept. |
http://www.ms-ad-hd.com/en/ir/contact/index.html | |
MS&AD Insurance Group Holdings, Inc. and its consolidated subsidiary Mitsui Sumitomo Insurance Company, Limited (Noriyuki Hara, President) have adopted a comprehensive resolution regarding the issuance of domestic subordinated unsecured bonds in order to enhance financial soundness and implement the growth strategy, and hereby notify the summary thereof in the below.
(1) Issuer | Mitsui Sumitomo Insurance Company, Limited | |
(2) Type of bond | Domestic subordinated unsecured bond | |
(3) Principal amount | Maximum of ¥50 billion | Maximum of ¥100 billion |
(4) Maturity date | Within 60 years. 60-year bonds that may be voluntarily redeemed after the passage of 5 years | Within 60 years. 60-year bonds that may be voluntarily redeemed after the passage of 10 years |
(5) Interest rate | Initial 5-year period: 1.5% or less After 5th year: 6-month yen LIBOR plus 1.5% or less After 10th year: 6-month yen LIBOR plus 2.0% or less | Initial 10-year period: 2.0% or less After 10th year: 6-month yen LIBOR plus 2.0% or less |
(6) Issue price | ¥99 or more per amount of ¥100 of each bond | |
(7) Redemption method | The bonds will be redeemed in full at maturity. However, the bonds may be redeemed by purchase and the attachment of advanced redemption provisions is possible. | |
(8) Method of interest payment | Semi-annually, deferred payment | |
(9) Issuance period | December 1, 2017 to March 31, 2018 | |
(10) Collateral and guarantees | No collateral or guarantee will be provided. | |
(11) Application of Law Concerning Book-Entry Transfer of Corporate Bonds, etc. | The provisions of the Law Concerning Book-Entry Transfer of Corporate Bonds, Stocks, etc. (Law No. 75, 2001) shall apply to all of the bonds issued based on this resolution. | |
(12) Use of funds | Long-term investment funds, funds for repayment of borrowings and bonds, and working capital | |
Note that a concrete issue date, principal amount, maturity date, interest rate, issue price, etc. will be determined in the future.
This timely disclosure entitled "Notice Regarding Comprehensive Resolution of Issuance of Domestic Subordinated Unsecured Bonds by Mitsui Sumitomo Insurance Company, Limited." has been prepared for the sole purpose of publicly announcing the issuance of securities by Mitsui Sumitomo Insurance Company, Limited, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan.
The above securities have not been and will not be registered under the United States Securities Act of 1933 (the "Securities Act")., and the securities may not be offered and or sold in the United States absent registration or an applicable exemption from the registration under the Securities Act. There is no plan to offer or sell the securities in the United States.
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MS&AD Insurance Group Holdings Inc. published this content on 29 September 2017 and is solely responsible for the information contained herein.
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