PICC Property & Casualty Co (HK:2328) has released an update.
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PICC Property & Casualty Co successfully issued RMB 12 billion in capital supplementary bonds in the national inter-bank bond market. The bonds, with a 10-year term, have a coupon rate of 2.33% per annum for the first five years, with an option for the company to redeem them at that point. If not redeemed, the rate will rise to 3.33% per annum for the remaining five years.
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