PICC Group (01339) unit PICC Health issues RMB3.5B bonds X
13/09/2017 17:48
(Infocast News)      The People's Insurance Company (Group) of China (01339) (PICC Group) announced that as approved by the regulatory authorities, PICC Health Insurance Company (PICC Health), a subsidiary of PICC Group, successfully issued capital supplementary bonds publicly on the national inter-bank bond market on 12 September 2017 (the Issuance of Bonds). The principal of the bonds issued is RMB3.5 billion, the term of the capital supplementary bonds is 10 years (PICC Health has the right to redeem the capital supplementary bonds at the end of the fifth year), and the interest rate was determined by a market-oriented approach.

The proceeds raised by the Issuance of Bonds will be used to supplement PICC Health's capital and improve its solvency in accordance with the applicable laws and regulatory approvals, in furtherance of creating favorable conditions for and supporting the continuous and sustainable development of its business.


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