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PICC Group to issue up to 18B yuan of bonds

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PICC Group to issue up to 18B yuan of bonds

People's Insurance Co. (Group) of China Ltd. plans to issue up to 18 billion yuan of fixed-rate capital supplementary bonds.

According to a May 31 release, the 10-year bonds will come with a redemption option for the company at the end of the fifth year. It did not specify details including coupon rate and date of issuance of the notes.