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Prospect News home > News index > List of issuers P > Headlines for People’s Insurance Co. (Group) of China Ltd. > News item
Published on 6/19/2018 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

China’s PICC redeems RMB 16 billion subordinated term debt at par

By Marisa Wong

Morgantown, W.Va., June 19 – People’s Insurance Co. (Group) of China Ltd. (PICC) announced it redeemed in full its RMB 16 billion subordinated term debt issued in June 2013.

The securities were redeemed at par on Tuesday.

The Beijing-based insurance company said it believes the redemption will help reduce financial costs and will not have an adverse impact on its daily operation and cash flow.


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