Fitch assigns A- to ICBC Macau notes

Fitch Ratings said it assigned an expected A- rating to proposed dollar-denominated 10-year subordinated notes from the Industrial and Commercial Bank of China (Macau) Ltd.

The offering is expected to be between $300 million and $500 million.

The notes will qualify as supplementary capital for capital adequacy under Macau’s banking regulations.

Proceeds will be used to support the bank’s business.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.