PICC Property & Casualty redeems capital supplementary bonds

PICC Property and Casualty Company Limited (HKEX: 2328) announced today the redemption of its capital supplementary bonds. The bonds, totaling RMB8 billion, were originally issued in the national inter-bank bond market and announced on March 23, 2020. According to the terms of the issuance, PICC Property and Casualty had the right to redeem the bonds at the end of the fifth year, a right which they have now exercised. The redemption was approved by the Board of Directors, which includes Chairperson Ms. Ding Xiangqun and Vice Chairperson Mr. Yu Ze.