News Column

Taiping Insurance's HKD800mn 4-yr Loan to HKD1.5bn

June 20, 2014

HONGKONG, June 20, SinoCast -- China Taiping Insurance'sHKD 800 million four-year financing has been lifted to HKD 1.5 billion or USD 193 million, which had been participated by five banks in the past.

Sumitomo Mitsui Banking Corporation, a lead arranger, book-runner and underwriting bank, has undertaken HKD 750 million.

The Hong Kong branch of Agricultural Bank of China undertook HKD 300 million and served as a lead arranger; Chang Hwa Bank's OBU joined in with HKD 200 million and served as an arranger; the Hong Kong branch of Hua Nan Bank and Wing Hang Bank undertook HKD 100 million each; the Hong Kong branch of First Commercial Bank undertook HKD 50 million.

The signing ceremony is expected to be held within two years. The raised capital will be used as general working capital.

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Source: Sinocast Insurance Beat (China)

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