ICBCI nets $700m inside fair value

By Morgan Davis
22 Jul 2020

ICBC International Holdings found a positive window to sell a five year bond on Tuesday, riding the uptick in market sentiment to price a $700m transaction inside fair value.

The Chinese bank, rated A2/A-, followed its parent company into the debt market.

Last week, Industrial and Commercial Bank of China sold a 1% 2023 note and a 1.2% 2025 bond through its Hong Kong arm at T-spreads of 93bp and 103bp, respectively. But the ...

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