June 6 (NBD) - China Life Insurance Co Ltd (601628.SH) disclosed Wednesday that the board of director has approved the debt financing plan for the following three years.

The company will raise no more than 80 billion yuan (12.5 billion U.S. dollars) or an equivalent amount in other currencies through issuing debt instruments at home or abroad.

After deducting all the issue expenses, the proceeds will be used to replenish the company’s capital so as to improve its repayment ability.

Email: tanyuhan@nbd.com.cn