perpetual bond

CEO Hahn notes hardening prices in both property and casualty businesses and says retained profits must improve before company, majority owned by Fosun group, considers an IPO.

China’s third largest coal producer raised its first $300 million perpetual bond as it seeks to refinance existing debt amid an industry downturn.

The Hong Kong-based energy supplier sold the highest-rated perpetual in Asia for two years, which was six times oversubscribed.