Aflac issues $2B in Pre-Capitalized Trust Securities (P-Caps) for contingent funding

AFLAC INC

Two trusts each sold 1M P-Caps for $1B aggregate, providing right to require purchase of up to $1B in Senior Notes per trust.
2035 P-Caps facility fee 0.9875% p.a.; 2055 P-Caps facility fee 1.1218% p.a.; proceeds invested in U.S. Treasury strips.
2035 Senior Notes carry 5.251% rate due 2035; 2055 Senior Notes carry 5.991% rate due 2055; both are contingent obligations.
Company may draw on the facility over 10 years (2035) or 30 years (2055) and has redemption options for the Senior Notes.

item 2.03

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.