ICBC turns to fellow banks for $260m floating rate note
ICBC’s Singapore branch approached a handful of bank treasurers for short-term funding this week, raising dollars to help fund its trade finance business in the country.
The bank sold a $260m three year bond on Thursday night, paying 80bp over three month dollar Libor at the tight end of 80bp-83bp guidance.
The deal was well timed: it came only a day after ICBC released full year results showing a net profit increase of
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