[Cathay Financial] CATHAYLIFE SINGAPORE PTE. LTD. Completes Pricing of $500M 15-Year Subordinated Bond
Cathay Financial's Singapore subsidiary has priced a $500 million 15-year subordinated corporate bond at 5.5%. Guaranteed by Cathay Life Insurance, the proceeds will support capital stability under IFRS 17 standards.
📋 Article Processing Timeline
- 📰 Published: April 23, 2026 at 09:00
- 🔍 Collected: April 24, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: April 24, 2026 at 08:14 (14 min after Collected)
1. Board resolution date: NA
2. Name of Bond: CATHAYLIFE SINGAPORE PTE. LTD. 15-year unsecured cumulative subordinated corporate bond.
3. Shelf registration: No
4. Total issuance: USD 500,000,000.
5. Denomination: USD 200,000.
6. Issue price: 99.348 (Effective yield: 5.586%).
7. Term: 15 years.
8. Interest rate: Fixed at 5.5%.
9. Collateral: None.
10. Use of proceeds: Maintaining capital stability post-IFRS 17/ICS transition and ensuring overseas funding liquidity.
11. Distribution: Sold outside the US under Regulation S.
12. Trustee: Citicorp International Limited
13. Underwriters: J.P. Morgan, Morgan Stanley
14. Guarantor: Cathay Life Insurance Co., Ltd.
15. Paying agent: Citibank, N.A., London Branch
19. Buy-back conditions: Callable after 10 years if capital adequacy ratios are met and approved by regulators.
22. Other: Pricing completed in New York on April 23, 2026.
2. Name of Bond: CATHAYLIFE SINGAPORE PTE. LTD. 15-year unsecured cumulative subordinated corporate bond.
3. Shelf registration: No
4. Total issuance: USD 500,000,000.
5. Denomination: USD 200,000.
6. Issue price: 99.348 (Effective yield: 5.586%).
7. Term: 15 years.
8. Interest rate: Fixed at 5.5%.
9. Collateral: None.
10. Use of proceeds: Maintaining capital stability post-IFRS 17/ICS transition and ensuring overseas funding liquidity.
11. Distribution: Sold outside the US under Regulation S.
12. Trustee: Citicorp International Limited
13. Underwriters: J.P. Morgan, Morgan Stanley
14. Guarantor: Cathay Life Insurance Co., Ltd.
15. Paying agent: Citibank, N.A., London Branch
19. Buy-back conditions: Callable after 10 years if capital adequacy ratios are met and approved by regulators.
22. Other: Pricing completed in New York on April 23, 2026.