New China Life Insurance Co., Ltd. Class H (HK:1336) has released an update.
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New China Life Insurance Co., Ltd. has successfully issued RMB10,000 million in capital supplementary bonds on June 20, 2024, to reinforce the company’s capital base and solvency, ensuring steady business growth. The bonds, with a 10-year term and a fixed annual coupon rate of 2.27% for the first five years, give the company an option to redeem after five years. The funds raised will be directed towards enhancing the insurer’s financial health in compliance with regulatory approvals.
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