US insurer Aflac Inc. on Thursday sold yen bonds totaling ¥65.9 billion ($415 million) across four tranches, joining a wave of foreign issuers tapping Japan’s credit market.
The coupon on the 10-year tenor was 3.482%, according to people familiar with the matter, who asked not to be identified because the information is private. Aflac is a regular issuer of yen bonds, and the overall amount of the SEC-registered deal was below last year’s ¥74.9 billion issuance.
Foreign borrowers including Berkshire Hathaway Inc. and Google parent Alphabet Inc. are ramping up their presence in Japan’s credit market, with the latter last ...
