20 September 2018

Ping An cleared for 26 bln yuan convertible bonds, filing says

Ping An Insurance (Group) Co. of China Ltd. (02318.HK, 601318.CN) said on Thursday that it has received approval from the China Securities Regulatory Commission for issuance of 6-year convertible bonds worth 26 billion yuan (US$4.27 billion). The approval brings to an end Ping An’s financing plans which have been ongoing for two years, and marks the first time an insurance firm has been given the nod to issue convertible bonds, the Securities Times said Thursday. The bond issue will meet Ping An’s capital needs for the next two to three years, the report said.

– Contact HKEJ at [email protected]



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