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China’s ICBC to redeem $1 billion tier 1 capital securities on July 21
By Devika Patel
Knoxville, Tenn., July 6 – Industrial and Commercial Bank of China (Asia) Ltd. plans to redeem all $1 billion remaining of the non-cumulative subordinated additional tier 1 capital securities issued under its $5 billion medium-term note program, according to a press release.
The securities will be redeemed at par plus distributions to July 21, the call date.
The lender is based in Beijing.
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