Summary by Moomoo AI
Ping An Insurance (stock code: 2318) completed the issuance of $3.5 billion convertible bonds on July 22, 2024, with an interest rate of 0.875% and maturity date in 2029. The bond is expected to be listed on the Hong Kong Stock Exchange on July 23, 2024. Morgan Stanley and J.P. Morgan are acting as joint global coordinators, joint bookrunners, and joint lead managers, while Ping An Securities (Hong Kong) Limited serves as a joint lead manager. According to the announcement, the conversion price may be adjusted in the event of certain adjustment events or changes in control. Currently, due to the diversified equity structure of the company, it is unlikely that there will be any changes in control. In addition, the company has the right to choose to settle the conversion rights in cash instead of issuing convertible shares. Any adjustment to the conversion price will be announced separately.