Sunshine Life approved to issue up to RMB 12 billion 10-year bonds

By William Gullotti

Buffalo, N.Y., Oct. 19 – China’s Sunshine Insurance Group Co., Ltd. announced that subsidiary Sunshine Life Insurance Corp. received regulatory approval to issue up to RMB 12 billion of 10-year redeemable capital supplementary bonds, according to a notice on Thursday.

The bonds will be publicly issued in China’s National Interbank Bond Market, with proceeds intended to improve the company’s solvency.

The insurance company is based in Beijing.

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