By Marisa Wong
Morgantown, W.Va., March 8 – Industrial and Commercial Bank of China Ltd. issued $205 million of floating-rate medium-term notes (A1) through its London branch, according to a Stock Exchange of Hong Kong Ltd. notice on Thursday.
The issuance included $50 million of series 5 tranche 1 notes due 2021 and $155 million of series 5 tranche 2 notes due 2021.
The series 5 notes carry a coupon of Libor plus 75 basis points, with the tranche 1 notes sold at par and the tranche 2 notes sold at par plus accrued interest from Feb. 8 to March 1, according to two term sheets.
The Regulation S notes were issued under the London branch’s $10 billion MTN program.
ICBC is based in Beijing.
| Issuer: | Industrial and Commercial Bank of China Ltd., London Branch
|
| Issue: | Floating-rate medium-term notes
|
| Amount: | $205 million
|
| Maturity: | Feb. 8, 2021
|
| Coupon: | Libor plus 75 bps
|
| Price: | Par for $50 million, par plus accrued interest from Feb. 8 to March 1 for $155 million
|
| Issue date: | Feb. 8 for $50 million, March 1 for $155 million
|
| Rating: | Moody’s Hong Kong: A1
|
| Distribution: | Regulation S
|
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