ICBC's dollar bond offers most direct exposure yet to a Chinese bank (AFP)
The Hong Kong branch of Industrial Commercial Bank of China late Wednesday night priced a $750 million 10-year senior bond that offers direct exposure to the bank’s onshore parent.
The notes were issued by Skysea International Capital Management, an entity established by ICBC International Leasing, which in turn is wholly owned by ICBC, the world’s biggest bank by market capitalisation. ICBC’s Hong Kong branch is the guarantor.
The deal was...