China’s Ping An Insurance eyes up to RMB 10 billion debt instruments

By William Gullotti

Buffalo, N.Y., March 25 – Ping An Insurance (Group) Co. of China, Ltd. is proposing to issue up to RMB 10 billion of debt financing instruments, according to a notice on Friday.

The multicurrency offerings will have terms of up to 10 years.

Proceeds will be used to replenish capital, for operations, to repay debt or to invest in projects.

The company will have up to 12 months to issue the instruments after receiving shareholder approval at the April 29 annual general meeting.

Ping An is a Shenzhen, China-based holding company whose subsidiaries specialize in insurance and financial services.

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