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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