T&D : Notice Regarding the Issuance of Domestic Subordinated Unsecured Bonds

November 28, 2019

T&D Holdings, Inc.

Hirohisa Uehara, President

(Security Code: 8795, TSE First Section)

Notice Regarding the Issuance of Domestic Subordinated Unsecured Bonds

T&D Holdings, Inc. (President: Hirohisa Uehara) of the T&D Insurance Group has decided the issuance of domestic subordinated unsecured bonds. The summary is as follows:

1.	Issuer	T&D Holdings, Inc.
2. Type of bond	Domestic subordinated	unsecured bonds	with interest
deferral option and early redemption option
3.	Principal amount	Maximum of ¥70 billion
But issuance divided into several rounds is possible
4.	Denomination	¥100 million
5.	Interest rate	Initial 5-year period: (pending) %
		After 5th year: 6-month yen LIBOR plus (pending) %
		or less
		After 10th year: 6-month yen LIBOR plus (pending) %
		or less
		Initial 10-year period: (pending) %
		After 10th year: 6-month yen LIBOR plus (pending) %
		or less
6.	Issue price	¥100 per amount of ¥100 of each bond
7.	Maturity date	30 years or more but less than 31 years
		The Bonds will be redeemed in full at maturity.
8.	Redemption method	However, the Bonds may be redeemed by purchase and the
		advanced redemption provisions is attached.
9.	Method of interest payment	Semi-annually, deferred payment
10. Collateral and guarantees	No collateral or guarantee will be provided.
11. Application of Law	The provisions of the	Law	Concerning	Book-Entry
Transfer of Corporate Bonds,	Stocks, etc. (Law No. 75,
Concerning Book-Entry Transfer
2001) shall apply to all of the bonds issued based on this
of Corporate Bonds, Stocks, etc.
resolution.
12. Issuance period	From January 6, 2020 to February 13, 2020
13. Use of funds	Loans to consolidated subsidiaries and so forth

This disclosure has been prepared for the sole purpose of publicly announcing the information regarding the issuance of bonds by the Company, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan.

[Contact Information]

T&D Holdings, Inc., Group Planning Department, Investor Relations Division Tel: [phone]