New Issue: ICBC prices $500 million three-year notes at Libor plus 115 bps

By Christine Van Dusen

Atlanta, Jan. 11 – Industrial and Commercial Bank of China Ltd. priced $500 million three-year floating-rate notes (expected rating: A1) at par to yield Libor plus 115 basis points on Monday, a market source said.

ICBC Asia, ICBC Singapore, BNP Paribas, ICBC International, ICBC Standard Bank, Citigroup and ING were the bookrunners for the Regulation S deal.

The Beijing-based bank will use the proceeds for general corporate purposes.

Issuer:	Industrial and Commercial Bank of China Ltd.
Amount:	$500 million
Maturity:	Jan. 19, 2019
Description:	Senior floating-rate notes
Bookrunners:	ICBC Asia, ICBC Singapore, BNP Paribas, ICBC International, ICBC Standard Bank, Citigroup, ING
Coupon:	Libor plus 115 bps
Price:	Par
Yield:	Libor plus 115 bps
Trade date:	Jan. 11
Settlement date:	Jan. 19
Expected rating:	Moody's: A1
Distribution:	Regulation S

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