ICBC Leasing squeezes pricing for tight $1.5bn bond

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ICBC Leasing squeezes pricing for tight $1.5bn bond

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A logo sign outside of the Milan branch of the Industrial and Commercial Bank of China (ICBC) in Milan, Italy on September 3, 2016. Photo by Kristoffer Tripplaar | Kris Tripplaar/SIPA USA/PA Images

ICBC Financial Leasing Co pulled off an ultra-tight spread on both tranches of a $1.5bn bond. The issuer built a mammoth order book with generous initial guidance but ultimately pushed investors inside fair value estimates.

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