SOMPO HOLDINGS INC. To Whom It May Concern:
Company Name : Sompo Japan Nipponkoa Holdings, Inc. Representative : Kengo Sakurada, Group CEO
Representative Director, President and Executive Officer
(Stock Code: 8630, the first section of Tokyo Stock Exchange, Inc.)
Notice regarding Determination of the Terms of Domestic Unsecured Subordinated Bonds with Interest Deferrable Clause Issued by Consolidated Subsidiary (Sompo Japan Nipponkoa Insurance Inc.)Sompo Japan Nipponkoa Holdings, Inc. hereby announces that its consolidated subsidiary, Sompo Japan Nipponkoa Insurance Inc., has determined the terms of domestic unsecured subordinated bonds with interest deferrable clause announced on July 7, 2016 as shown in the attached document.
(End of Document)
Sompo Japan Nipponkoa Insurance Inc.
Notice regarding Determination of the Terms of Domestic Unsecured Subordinated Bonds with Interest Deferrable ClauseSompo Japan Nipponkoa Insurance Inc. ("SJNK") hereby announces that it has determined the terms of domestic unsecured subordinated bonds with interest deferrable clause (the "Bonds"), the offering of which was announced on July 7, 2016, as follows.
1. Issuer: | Sompo Japan Nipponkoa Insurance Inc. | ||
2. Name of bond: | The first series of unsecured subordinated bonds with interest deferrable clause and early redeemable option. | The second series of unsecured subordinated bonds with interest deferrable clause and early redeemable option. | |
3. Aggregate principal amount: | JPY 100.0 billion | JPY 100.0 billion | |
4. Denomination: | JPY 1 million | JPY 100 million | |
5. Issue price: | JPY 100 per amount of JPY 100 of each bond | ||
6. Redemption price: | JPY 100 per amount of JPY 100 of each bond | ||
7. Maturity date: | August 8, 2046（30-year bonds） SJNK may, at its discretion, redeem the bonds (i) on any interest payment date on or after August 8, 2026 or (ii) upon the occurrence and continuation of a regulatory event, a tax deductibility event or a rating agency event on or after August 8, 2016, subject to a prior approval of the regulatory authority and other conditions. | August 8, 2076（60-year bonds） SJNK may, at its discretion, redeem the bonds (i) on any interest payment date on or after August 8, 2026 or (ii) upon the occurrence and continuation of a regulatory event, a tax deductibility event or a rating agency event on or after August 8, 2016, subject to a prior approval of the regulatory authority and other conditions. | |
8. Interest rate: | From the day following August 8, 2016 until August 8, 2026 : | From the day following August 8, 2016 until August 8, 2026 : | |
0.84% per annum From the day following August 8, 2026 : 6-month Japanese yen LIBOR plus 1.86% | 0.84% per annum From the day following August 8, 2026 : 6-month Japanese yen LIBOR plus 1.86% | ||
9. Offering terms: | July 28, 2016 to August 5, 2016 | July 27, 2016 | |
10. Payment date: | August 8, 2016 | ||
11. Interest payment dates: | February 8 and August 8 of each year | ||
12. Subordination: | As to the payment of debt in SJNK's liquidation or other bankruptcy proceedings, the Bonds shall be subordinated to SJNK's senior indebtedness, ranking substantially pari passu with its most preferred stock (if issued) and the outstanding U.S. dollar-denominated subordinated bonds issued by SJNK in 2013 and senior to SJNK's common stock. | ||
13. Use of funds: | Long-term investment funds such as securities investment and working capital. | ||
14. Joint lead managers: | Mizuho Securities Co., Ltd. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Daiwa Securities Co. Ltd. SMBC Nikko Securities Inc. | Mizuho Securities Co., Ltd. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Daiwa Securities Co. Ltd. SMBC Nikko Securities Inc. | |
15. Underwriter: | － | JPMorgan Securities Japan Co., Ltd. | |
16. Bond administrator: | Mizuho Bank, Ltd. | － | |
17. Fiscal agent: | － | Mizuho Bank, Ltd. | |
18. Credit rating: | AA－（Japan Credit Rating Agency, Ltd.） | ||
19. Securities depository: | Japan Securities Depository Center, Incorporated | ||
(End of Document)
This document has been prepared for the purpose of publicly announcing the issuances of SJNK first series of unsecured subordinated bonds with interest deferrable clause and early redeemable option and SJNK second series of unsecured subordinated bonds with interest deferrable clause and early redeemable option, and not for the purpose of
soliciting investment or engaging in any other similar activities within or outside
Japan.
Sompo Japan Nipponkoa Holdings Inc. published this content on 27 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 July 2016 01:54:06 UTC.
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