China Life Insurance (HKG:2628) completed the issue of 35 billion yuan of capital supplementary bonds in the national interbank bond market on Thursday, a same-day bourse filing said.

The bonds carry a 2.15% coupon rate and will fall due in 10 years.

The insurer will use proceeds from the issue to replenish its supplementary tier 1 capital, boost solvency, and promote business development.

Shares of the company closed nearly 5% higher on Thursday.

Price (HKD): $13.98, Change: $+0.66, Percent Change: +4.95%