Ping An hires Goldman and two others for domestic CB

The Chinese insurer is seeking to raise up to $4.1 billion from the sale of bonds convertible into A-shares.

Ping An hires Goldman and two others for domestic CB
Photo: ImagineChina

Ping An Insurance Group has mandated China International Capital Corp CICC, Credit Suisse Founder Securities, in which Credit Suisse owns a 33% stake, and Goldman Sachs Gaohua to help it sell a domestic convertible bond of up to Rmb26 billion $4.1 billion, according to sources.

The deal, which was first announced just before the Christmas holidays, will help Ping An to boost its solvency margin ratio, which has come under pressure as its...

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