New China Life Insurance (01336) announced that with the approval of the China Banking and Insurance Regulatory Commission and the People's Bank of China, Xinhua Life...
According to the announcement released by Xinhua Insurance (01336) on the Finance and Economics App, with the approval of the China Banking and Insurance Regulatory Commission and the People's Bank of China, Xinhua Life Insurance Co., Ltd. issued a total of RMB 10 billion capital supplementary bonds in the national inter-bank bond market on June 18, 2024, and completed its issuance on June 20, 2024.
The total scale of this bond issue is RMB 10 billion, with a variety of 10-year fixed rate bonds and a coupon rate of 2.27% for the first five years. The issuer has conditional redemption rights at the end of the fifth year.
The funds raised from this bond issuance will be used to supplement the company's capital, enhance solvency, create conditions for the sound development of the company's business, and support sustainable and steady development of the business in accordance with applicable laws and regulatory approvals.