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ICBC makes note issuance

2014-12-05 11:01 Global Times/Agencies Web Editor: Qin Dexing
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Industrial and Commercial Bank of China (ICBC) has released the issuing prices for a 34.6 billion yuan ($5.64 billion) offering of Basel III-compliant Additional Tier 1 perpetual notes that will yield 6 percent for three tranches in US dollar, offshore yuan and euro, ICBC said on its website Thursday.

The tranches are $2.95 billion, 12 billion yuan and 600 million euros. The respective prices are $0.65 per share, 0.48 euro per share and 3.97 yuan per share.

Global investors have subscribed to $27.78 billion worth of notes, and the breakdown by region shows that 84.7 percent of the notes were allocated to investors from Asia, while 7.1 percent were allocated to Middle East investors and 5.6 percent to US investors.

The official offering date was set for December 10.

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