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China Taiping Insurance unit eyes Regulation S offering of notes
By Marisa Wong
Madison, Wis., Nov. 7 - China Taiping Capital Ltd., a wholly owned subsidiary of China Taiping Insurance Holdings Co. Ltd., said it is planning to conduct an international offering of notes. The notes will be issued by China Taiping Capital and guaranteed by China Taiping Insurance Holdings.
BOCI Asia Ltd., Citigroup Global Markets Ltd. and J.P. Morgan Securities plc will be the joint lead managers and joint bookrunners for the Regulation S deal. BOCI Asia and Citigroup will also act as global coordinators.
Proceeds will be on-lent to the parent company and will be used for general corporate purposes, including repaying notes due 2013.
The insurance conglomerate is based in Hong Kong.
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