• SHARE

Sumitomo Life Insurance Co. said Friday it took out a 75 billion yen perpetual subordinated loan from Sumitomo Mitsui Banking Corp. and other lenders, and simultaneously repaid SMBC and others a combined 225 billion yen in subordinated loans that carried maturity periods.

A perpetual subordinated loan does not carry a maturity and the borrower continues to pay a yield — which is usually much higher than interest rates accruing from other fundraising tools — until it redeems the perpetual loan.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW