Issue of US$653 million subordinated dated capital bonds by Nanshan Life Pte. Ltd. guaranteed by Nan Shan Life Insurance Co., Ltd.
Allen & Gledhill advised Nanshan Life Pte. Ltd. (“Issuer”) on the issue of US$395 million 5.875% Tier 2 subordinated dated capital bonds due 2041 (“Initial Bonds”), and the tap issue of US$258 million 5.875% Tier 2 subordinated dated capital bonds due 2041 (“Additional Bonds”, and together with the Initial Bonds, “Bonds”), which are consolidated and form a single series with the Initial Bonds.
The Bonds are irrevocably and unconditionally guaranteed by Nan Shan Life Insurance Co., Ltd. (“Guarantor”). The Issuer is a Singapore-incorporated wholly-owned subsidiary of the Guarantor.
Advising the Issuer and Guarantor were Allen & Gledhill Partners Bernie Lee, Jo Tay and Sunit Chhabra.
