China’s Ping An Bank Co., Ltd. announced that it will set up a subsidiary targeting to raise RMB10 billion (US$1.46 billion) before 2020 to focus on debt-to-equity swap deals, according to a security filing. The company said that it plans to allocate its own capital and raise third-party capital to aggregate RMB5 billion before the end of 2019 and another RMB5 billion before the end of 2020 to establish a wholly owned asset management unit for this purpose. Ping An’s …

China’s Ping An Bank Sets Up Subsidiary To Manage Debt-To-Equity Swaps appeared first on China Money Network.