New Issue: ICBC sells $1.6 billion 1% notes due 2023, 1.2% notes due 2025

By Marisa Wong

Los Angeles, July 20 – Industrial and Commercial Bank of China Ltd. issued $1.6 billion of notes in two tranches through its Hong Kong branch, according to a Stock Exchange of Hong Kong Ltd. notice on Monday.

The issuance included $800 million of 1% notes due 2023 and $800 million of 1.2% notes due 2025.

ICBC, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China, Credit Agricole CIB, HSBC, Standard Chartered Bank, China International Capital Corp., BNP Paribas, Mizuho Securities, China Minsheng Banking Corp., Ltd., CTBC Bank, Bank of Communications, Shanghai Pudong Development Bank Hong Kong Branch and BOSC International are the joint bookrunners and joint lead managers.

The notes were issued under the bank’s $20 billion medium-term note program.

Listing of the notes on the Stock Exchange of Hong Kong is expected to take effect Tuesday.

ICBC is based in Beijing.

Issuer:	Industrial and Commercial Bank of China Ltd., Hong Kong Branch
Issue:	Medium-term notes
Amount:	$1.6 billion
Bookrunners:	ICBC, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China, Credit Agricole CIB, HSBC, Standard Chartered Bank, China International Capital Corp., BNP Paribas, Mizuho Securities, China Minsheng Banking Corp., Ltd., CTBC Bank, Bank of Communications, Shanghai Pudong Development Bank Hong Kong Branch and BOSC International
Pricing date:	July 13
Announcement date:	July 20
Listing date:	July 21
Listing:	Stock Exchange of Hong Kong Ltd.
2023 notes
Amount:	$800 million
Maturity:	2023
Coupon:	1%
2025 notes
Amount:	$800 million
Maturity:	2025
Coupon:	1.2%

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