Aflac Incorporated announced today that it has priced $700 million (par value) of 10-year fixed-rate, senior notes with a coupon of 3.625%. The 10-year notes will be issued at a price of 100.00 to yield 3.625%. The company intends to use the net proceeds from this offering to repay, redeem or repurchase one or more of the parent company's ¥28.7 billion aggregate principal amount of 1.47% Samurai notes due July 2014; ¥5.5 billion aggregate principal amount of variable interest rate Samurai notes due July 2014 (which bear interest at an annual rate of 1.32% as of March 31, 2013); and $300 million aggregate principal amount of 3.45% senior notes due August 2015. The balance of the net proceeds is expected to be used for general corporate purposes, including capital contributions to subsidiaries, if needed.

Commenting on the pricing of the debt issue, Aflac Incorporated President and Chief Financial OfficerKriss Cloninger III commented: "This debt issuance allows us to take advantage of favorable market conditions to facilitate our repayment of outstanding debt over the next two years."

Goldman Sachs & Co., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, and J.P. Morgan Securities LLC served as joint book-running managers for the transaction.