Off the wire
• Tourism official vows big 2016 investment, return  • China to complete rare earth industry restructuring by mid-2016  • Lack of funds hampering judo growth in Namibia  • Five die from H1N1, one from H3N2 in Georgia  • CPI in France down 1 pct in January  • Roundup: Pakistan Stock Exchange keeps bullish for 6th day  • China's resort island relaxes duty-free shopping restrictions  • Kremlin asks U.S. to explain accusations on Putin  • 1st LD Writethru: Intra-Syrian talks to start as planned  • China's mobile Internet security grim as malicious programmes increase  
You are here: 　 Home

Insurance firm issues China's first overseas senior bonds

Xinhua, January 29, 2016 Adjust font size:

Chinese insurance firm Ping An has issued the country's first overseas senior bonds.

The company said on Friday that it has issued a total of 1.2 billion U.S.dollars of senior bonds, which have priority over others in the event of liquidation. The issuance includes 700 million U.S. dollars of three-year-maturity bonds with a nominal interest rate of 2.375 percent and 500 million U.S. dollars of five-year-maturity bonds with a nominal interest rate of 2.875 percent.

The move "aims to expand direct debt financing channels, optimize capital structure and help the company grow its business overseas," Ping An said in a statement.

China's top economic planner, the National Development and Reform Commission, released a guideline in September encouraging Chinese companies to issue bonds overseas. Endi