<-bsp-bb-link state=”{“bbHref”:”bbg://securities/1235222D%20CH%20Equity”,”_id”:”0000018d-f305-d64e-af9d-f75fe7070000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Aeon Life Insurance Co.-bsp-bb-link>, a Chinese insurer backed by Dalian Wanda Group Co., chose not to exercise a call option on a subordinated bond in a move that usually signals an issuer’s liquidity strains or refinancing challenges.
The insurance company decided to skip the March call option on its 2 billion yuan ($278 million) <-bsp-bb-link state=”{“bbHref”:”bbg://securities/AEONIN%206%C2%BC%2003%7C28%7C2029%20Corp/DES”,”_id”:”0000018d-f305-d64e-af9d-f75fe7080000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>subordinated bond-bsp-bb-link> maturing in 2029 that was used to replenish its capital, according to a statement from the company published on the Chinamoney.com website Wednesday.
The coupon on the notes will jump to 7.25% from 6.25%, the filing shows. The decision comes at a time …
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.