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GC Asia
ICBC pulls off tight pricing for dim sum
Industrial and Commercial Bank of China made its debut in the offshore renminbi debt market this week, raising Rmb1bn ($157m) from a deal that priced inside the outstanding bonds of its rivals, including Bank of China.
The bank has previously sold deals through its Hong Kong-based international unit, ICBC Asia. But it had never issued directly until this week, when an improvement in investor sentiment encouraged the bank to launch a long-awaited deal.
The bond received around Rmb5bn of demand, allowing the bank to easily ...Please take a trial or subscribe to access this content.
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