China's Ping An Insurance sets talk for three-year renminbi notes and tap of five-year bonds

By Christine Van Dusen

Atlanta, Nov. 13 - Ping An Insurance Group Co. of China set talk for an offering of three-year renminbi-denominated notes and a tap of its 4¾% renminbi notes due in five years, a market source said.

The three-year notes were talked at a yield in the 4.2% area.

The five-year tap was talked at a price in the 100.75 area.

No other details on the new deals were available on Wednesday.

The original five-year issue totaled RMB 1.8 billion and priced in October at par to yield 4¾% via BofA Merrill Lynch and HSBC in a Regulation S deal.

The issuer is based in Shekou, Shenzhen, China.

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