CCB Life heads offshore for capital boost

The life insurance arm of China Construction Bank topped up its capital with a $500 million hybrid bond — reopening a segment of the market dormant for almost two years.

CCB Life heads offshore for capital boost

CCB Life made its first foray into the international bond markets this week, selling a 60-year note that broke a long silence from Chinese insurers in the dollar hybrid market.

It was the first such deal since China Life, the country’s largest insurer by premiums, sold a $1.28 billion 60 non-call five-year hybrid in June 2015.

On Wednesday, the lead managers pitched the Reg-S bond at “the 4.8% area”, before...

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