The Hong Kong and London offices of Debevoise & Plimpton LLP have advised Hong Kong-based life insurer AIA Group Limited (AIA) in its $500 million offering in Taiwan of senior unsecured fixed rate notes with a coupon rate of 4.47%. The notes are due in 2047.

The offering is part of AIA’s $6 billion Global Medium Term Note and Securities Programme. The notes will be subject to redemption in whole, but not in part, at the option of AIA on 23 May in each year, beginning 23 May 2022.

The proceeds from the notes will be used for general corporate purposes.

AIA is a long-term client of Debevoise’s. The firm advised AIA on the initial expansion of its Global Medium Term Note Programme, as well as its first ever Rule 144A placement in the United States in 2014, and subsequent annual offerings since that date.

The Debevoise team advising AIA on the offering was led by partner James C. Scoville, and included partner William Y. Chua, associates Wen-Wei Lai and Jayne So, and law clerk Monisha D’Souza. Finance advice was provided by partner Alan J. Davies and associate Michelle Gilmore. Tax advice was provided by partner Richard Ward, international counsel Cécile Beurrier, and associate Ellie Mends.

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