China Ping An seeks to raise 11.8 billion Hong Kong dollars through the issuance of zero-coupon convertible bonds.

According to transaction documents, Ping An Insurance Group of China is seeking to issue convertible bonds, raising HKD 11.8 billion. These bonds are zero coupon bonds, and will mature in 2030. Ping An plans to use the proceeds from the issuance to develop core businesses, support new initiatives in healthcare and elderly care sectors, and strengthen its capital position. Morgan Stanley is the exclusive global coordinator and book-keeper for this transaction.