Published on 7/9/2020 in the Prospect News Emerging Markets Daily.
New Issue: ZhongAn Online prices $600 million 3 1/8% notes due 2025 at par
Chicago, July 9 – ZhongAn Online P&C Insurance Co., Ltd. sold $600 million of 3 1/8% notes (Baa2) due 2025 at par, according to an announcement.
Joint global coordinators, joint bookrunners and joint lead managers are J.P. Morgan Securities plc, Credit Suisse (Hong Kong) Ltd., China International Capital Corp. Hong Kong Securities Ltd. and Morgan Stanley & Co. International plc.
Joining as joint bookrunners and joint lead managers are UBS AG Hong Kong Branch, Haitong International Securities Co. Ltd., BOCI Asia Ltd. and ABCI Capital Ltd.
ZhongAn is the largest online insurer in China.
Issuer: | ZhongAn Online P&C Insurance Co., Ltd.
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Issue: | Notes
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Amount: | $600 million
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Maturity: | 2025
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Bookrunners: | J.P. Morgan Securities plc, Credit Suisse (Hong Kong) Ltd., China International Capital Corp. Hong Kong Securities Ltd., Morgan Stanley & Co. International plc, UBS AG Hong Kong Branch, Haitong International Securities Co. Ltd., BOCI Asia Ltd. and ABCI Capital Ltd.
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Coupon: | 3 1/8%
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Price: | Par
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Yield: | 3 1/8%
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Pricing date: | July 9
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Settlement date: | July 16
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Rating: | Moody’s: Baa2
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