Chinese non-life giant in $1.2bn debt issue
(BESTWIRE) - PICC Property and Casualty Co. Ltd. [77633], the largest n domestic nonlife insurer in China, said it will issue not more than 8bn yuan (US$1.2bn) in 10-year subordinated term debt securities to raise its solvency margin, subject to shareholder and regulatory approval.
The insurer said the decision has been made after "conscientiously comparing various proposals" to meet itscapital needs and considering "the current low interest rate environment."
PICC said the terms
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk