New Issue: China's ICBC prices RMB 1.5 billion of 6% notes due 2021 at par

By Christine Van Dusen

Atlanta, Oct. 31 - Industrial and Commercial Bank of China Ltd. sold RMB 1.5 billion 6% notes due Nov. 4, 2021 (A2//A) at par to yield 6%, a market source said.

HSBC, ICBC International, Bank of China, Credit Suisse, DBS Bank and Goldman Sachs were the bookrunners for the Regulation S deal.

The company's board of directors recently approved the planned issuance of up to RMB 70 billion of subordinated bonds with maturities of five years or longer.

ICBC is a lender based in Beijing.

Issuer:	Industrial and Commercial Bank of China Ltd.
Amount:	RMB 1.5 billion
Maturity:	Nov. 4, 2021
Description:	Notes
Bookrunners:	HSBC, ICBC International, Bank of China, Credit Suisse, DBS Bank, Goldman Sachs
Coupon:	6%
Price:	Par
Yield:	6%
Call features:	Callable on Nov. 5, 2016
Trade date:	Oct. 28
Settlement date:	Nov. 4
Ratings:	Moody's: A2
	Fitch: A
Distribution:	Regulation S

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