ICBC NY slips triple tranche $2.25bn under the radar

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By Virginia Furness
06 Nov 2014

ICBC NY sneaked a triple tranche dollar bond into the market on Wednesday while most attention was concentrating on well flagged issues from Bank of China and China Construction Bank. ICBC took a hefty $2.25bn with the US targeted senior trade, proving that global appetite for Chinese bank debt is still unsated.

While ICBC NY will use the proceeds of the deal for general funds and corporate purposes, bankers said it was a strategic trade which aimed to grow the bank’s presence in the US and at the same time tap global liquidity pools.

“The Chinese banks have relied ...

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