AFLAC Inc. announced that it has priced $400 million of 30-year senior notes.

Aflac said it will issue the notes at a price of $98.951 to yield 6.984%.

The company anticipates using the proceeds to repay debt and for general corporate purposes.

“This debt issuance further strengthens our liquidity position and facilitates our repayment of approximately 40 billion yen, or about $450 million at the current yen/dollar exchange rate, of Samurai notes that mature in July 2010,” said Aflac president and chief financial officer Kriss Cloninger III in a statement.