Chicago, March 31 – AIA Group Ltd. priced $750 million of 2.7% resettable subordinated perpetual securities (A3/A+/A-), according to a notice on Wednesday.
The notes were sold under the company’s recently established $12 billion global medium-term note program.
Demand was over $5 billion from investors for the issue.
Proceeds will be used for general corporate purposes.
Citigroup Global Markets Inc. is the arranger for the program and also a dealer along with ANZ, BNP Paribas, Credit Agricole, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley, MUFG, Standard Chartered Bank and Wells Fargo Securities.
AIA is a pan-Asian life insurance group based in Hong Kong.
| Issuer: | AIA Group Ltd.
|
| Issue: | Resettable subordinated perpetual securities
|
| Amount: | $750 million
|
| Maturity: | Perpetual
|
| Bookrunners: | Citigroup Global Markets Inc., ANZ, BNP Paribas, Credit Agricole, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley, MUFG, Standard Chartered Bank and Wells Fargo Securities
|
| Coupon: | 2.7%
|
| Trade date: | March 31
|
| Ratings: | Moody’s: A3
|
| S&P: A+
|
| Fitch: A-
|
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