Nov 23, 2021

Star Union Dai-ichi Life Insurance raises maiden 10-year bond at 7.75%-Business Journal By Topics Last Updated at November 24, 2021 01:03 IST Star Union Dai-ichi Life Insurance on Tuesday raised Rs 125 crore in its maiden bond issuance to meet its growth needs. The insurance firm, a joint venture between state-owned Bank of India and Union Bank of India, and Japan’s leading insurance firm Dai-ichi Life Holdings raised the bond through a 10-year subordinated debt paper, with an AA rating at 7.75 per cent. The spread between the 10-year sovereign bond yields and the coupon offered by the insurance firm works out to around to about 140 basis points, which is about 40 basis points higher than what a AAA rated firm would generally offer investors. Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.