China Taiping prices Asia’s first insurance perp

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By Virginia Furness
04 Sep 2014

China Taiping benefited from strong regulatory support for the Chinese insurance sector on Wednesday, managing to price a perpetual bond 42.5bp inside initial guidance on the back of strong demand. Bankers say the transaction marked a change of sentiment towards the credit as its previous transactions had not received much demand.

“China Taping is majority owned by China Taiping Group, which is 100% owned by the Chinese government,” said a syndicate banker at one of the leads. “The company is very well placed in an industry that is expected to grow rapidly.”

In July this year, China ...

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