SYDNEY, June 20 (Reuters) - Hong Kong-based insurer FWD

Group is raising $600 million from the sale of a 7-year

subordinated dollar bond, according to a term sheet seen by

Reuters on Thursday.

The initial price guidance given to investors is Treasuries

plus 380 basis points, the term sheet said.

FWD said in an exchange filing the proceeds would be used to

refinance existing debt and general corporate purposes.

The pan-Asian insurance group, controlled by billionaire

Richard Li, has

revived plans

to list in Hong Kong, Reuters reported on June 6.

FWD could target a valuation of up to $9 billion in the

initial public offering (IPO) depending on financial market

conditions when launching the deal, sources said.