Updated: ICBC follows bank FRN trend for green deal
Industrial and Commercial Bank of China’s London branch issued a $1.5bn-equivalent green bond on Tuesday, becoming the third big Chinese bank to hit the offshore debt market with floating rate notes in less than a week.
ICBC followed a cluster of deals from Chinese lenders. On June 1, China Construction Bank raised $1.5bn from a dual-tranche FRN. On Wednesday, China Everbright Bank’s Hong Kong branch raised $300m from a dollar-denominated three year FRN alongside a €300m three year FRN.Most notably,