New Issue: China's ICBC prices $300 million 2¾% 5.5-year notes at Treasuries plus 190 bps

By Paul A. Harris

Portland, Ore., March 6 - China's Industrial and Commercial Bank of China Ltd. has priced a $300 million issue of 2¾% 5.5-year eurobonds (A1/A) at a 190 basis points spread to Treasuries, according to a market source.

Standard Chartered Bank managed the sale.

As of Sept. 30, 2010 the Beijing-based commercial lender was the largest bank in the world in terms of market capitalization.

Issuer:	SPV ICBC Singapore (Industrial and Commercial Bank of China Ltd.)
Amount:	$300 million
Maturity:	Sept. 9, 2017
Securities:	Eurobonds
Manager:	Standard Chartered Bank
Coupon:	2¾%
Price:	99.807
Spread:	Treasuries plus 190 bps
Settlement date:	March 9
Ratings:	Moody's: A1
	Standard & Poor's: A

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