China Citic Bank dares tier two after ICBC
China CITIC Bank International will embark on investor meetings to sell Asia’s second Basel III-compliant tier two after ICBC (Asia) took the plunge in the beginning of the month and saw its outstanding bonds trade wider in secondaries.
The bank has mandated BBVA, HSBC, Goldman Sachs and Royal Bank of Scotland to arrange investor meetings for its first Basel III bond in Hong Kong on Monday, Singapore on Tuesday and London on Wednesday.
ICBC (Asia)’s tier twos had a non-viability trigger that can force a writedown
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