PICC P&C Issues RMB 12 Billion Bonds

People’s Insurance Co (Group) of China (HK:1339) has released an update.

PICC Property and Casualty Company Limited, a subsidiary of The People’s Insurance Company (Group) of China, has successfully issued RMB 12 billion in capital supplementary bonds in the national inter-bank bond market. The bonds have a 10-year term with a 2.33% annual coupon rate for the first five years, after which it may increase to 3.33% if redemption rights are not exercised. This move could potentially strengthen the company’s financial stability and appeal to investors.

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