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New China Life Insurance To Offer Us$2bln In Bonds In 2012

 

Saturday, Feb 04,2012, 4:52:45 PM   Click:

New China Life Insurance Corporation (NCI, SSE:601336, SEHK:1336) announced on Wednesday that it will raise no more than 15 billion yuan (US$2.3 billion) worth of capital through debt issuance to improve its ability to make payments to policy-holders.

The company plans to auction at most 10 billion yuan worth of subordinated bonds with a maturity of more than 5 year, and up to 5 billion yuan worth of bond instruments with a maturity of over 10 year.

In last December, NCI went public in Shanghai and Hong Kong, raising 13 billion yuan worth of capitals.

By Wednesday, NCI closed down 1.83 per cent to 29.97 yuan on A-share market, while it, on H-share market, edged up 1.05 per cent to 28.95 Hong Kong dollars.





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