TOKYO -- Nippon Life Insurance is issuing 500 million euros ($518 million) in subordinated bonds, becoming the first major Japanese life insurer to raise money denominated in the European currency, according to the company, part of a trend of the country's insurers raising capital ahead of stricter regulations.
The bonds' maturity will be set for January 2055, and the annual coupon rate for the first decade will be 4.114%. The coupon will be changed every five years afterward.
