Ping An Group has issued convertible bonds totalling HKD11.77 billion, with Haiwen & Partners and Linklaters providing legal services for the transaction.
On 11 June, Ping An completed the issuance of zero-coupon convertible bonds with a principal amount of HKD11.765 billion, maturing in 2030. Morgan Stanley acted as the sole global co-ordinator and bookrunner as well as joint lead manager with Ping An Securities (Hong Kong).
Haiwen & Partners advised on PRC law for the issuer, with partners Hu Ji and Qian Zhen leading the team. Linklaters counselled Morgan Stanley, led by partner Taiki Ki from the capital markets division.
The funds raised will be used to support Ping An Group’s core financial operations and new strategic developments in healthcare and elderly care, as well as to meet general corporate capital requirements.
Ping An Group plans to apply for the listing of these convertible bonds on the Frankfurt Stock Exchange within 45 days from 11 June.
