The Beijing Financial Supervisory Authority has granted approval for Minsheng Life Insurance Co., Ltd. to issue capital supplement bonds.
The regulator's official批复 authorizes the insurer to publicly issue 10-year redeemable capital supplement bonds on the national interbank bond market, with a total issuance scale not exceeding 1.5 billion yuan (inclusive).
The Beijing Financial Supervisory Authority stated that the company must strictly comply with all relevant regulations, including the "Announcement No. 3 of 2015 of the People's Bank of China and the China Insurance Regulatory Commission (on Matters Concerning the Issuance of Capital Supplement Bonds by Insurance Companies)," for the issuance and management of these bonds.
The insurer is required to complete the issuance within the validity period of the permit granted by the competent bond market authority and must report the details of the issuance to the Beijing Financial Supervisory Authority within 10 working days after the offering concludes.
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