ICBC extends global reach with Aussie CNH

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By Isabella Zhong
31 Jul 2014

ICBC priced the first syndicated offshore renminbi bond to be issued by its Sydney branch on July 29. The 1.5 year and three year dual trancher, which the issuer wants to list, will be listed on the Australian Securities Exchange (ASX), marks an important first step for ICBC Sydney as Australia’s status as an offshore RMB hub grows.

“The issuer wanted to create a footprint in a new market where they can issue benchmark sized RMB bonds,” said a syndicate banker on the deal. “It wants to be able to operate independently in that environment.”

Joint bookrunners ANZ, Bank of America Merrill Lynch, Citi, ICBC (Asia), ...

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