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China’s PICC redeems RMB 5 billion of 10-year subordinated term debt
By Susanna Moon
Chicago, June 3 – PICC Property and Casualty Co. Ltd. said it redeemed all of its RMB 5 billion of 10-year subordinated term debt.
The notes were callable at the end of the fifth year, according to a company notice.
The notes were issued on June 7, 2011.
PICC is a subsidiary of People’s Insurance Co. (Group) of China Ltd. The insurance company is based in Beijing.
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