Ping An of China seeks to raise $ 3.5 billion through issuing convertible bonds

Ping An of China seeks to raise 3.5 billion U.S. dollars (about S $ 4.7 billion) due to the issuance of convertible bonds in 2029.

According to Bloomberg Monday (July 15), transaction clauses show that the ticket rate of bond tickets is between 0.375%-0.875%.

While issuing convertible bonds, Ping An of China will also provide stock allocation to facilitate investors who purchase bonds for hedging.

Terms show that Ping An of Ping An intended to use the issuance of the issuance of the issuance to further develop the core business of the group, enhance the capital status, and support strategic measures in the field of medical care and pension.

Bloomberg reports that Chinese companies have recently switched to more convertible bonds than traditional bond interest rates for financing.This approach is particularly popular in the science and technology industry. Alibaba Group Holdings issued a record of $ 5 billion in convertible bonds in May.