AIA prices $1 bln of notes to refinance Malaysia deal

HONG KONG, March 6 Tue Mar 5, 2013 10:57pm EST

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HONG KONG, March 6 (Reuters) - AIA Group Ltd said in a statement on Wednesday that it has priced $1 billion of senior unsecured fixed rate notes, half due in 2018 and half due in 2023.

The issuance is AIA's first and proceeds from the notes will be used to refinance an unsecured credit facility associated with its $1.7 billion purchase of ING Groep NV's Malaysia operations.

The 2018 notes have a coupon of 1.75 percent per year, while the 2023 notes have a coupon of 3.125 percent per year.

ANZ, Deutsche Bank, HSBC, Morgan Stanley and Standard Chartered Bank arranged the deal. (Reporting by Clare Baldwin and Umesh Desai; Editing by Sanjeev Miglani)