China Life says mulling subordinated term debt issue
Updated: 2011-08-22 11:03
(Agencies)
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HONG KONG - China Life Insurance Company Limited, the world's biggest insurer by market capitalisation, said it was considering a subordinated term debt issue, Reuters reported.
In a filing to the Hong Kong bourse late on Sunday, the Chinese insurer said it would submit a proposal on the issue for board review and approval as soon as possible. It gave no further details.
China Life is planning to issue up to 30 billion yuan ($4.69 billion) worth of subordinated debt, according to a report by IFR, a Thomson Reuters publication.
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