AIA’s maiden tier two notes lay groundwork for new insurance bonds

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By Alice Huang
10 Sep 2020

AIA Group has issued a $1.75bn subordinated bond, which will be the first to qualify as tier two capital under a new regulatory framework in the works in Hong Kong. Alice Huang reports.

Insurance company AIA is a well-known name in the dollar market. Its last transaction, a $1bn senior trade in late March, reopened Asia’s bond market after the pandemic hit. But its deal on Wednesday was its first subordinated transaction.

The deal was significant for a number of ...

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