ICBC Leasing returns with $2b dual-tranche bond

Going down the Reg S route allows the company to pick up more steam than its 144A print six months ago. It reflects a growing shift in buying power to the East.

ICBC Leasing returns with $2b dual-tranche bond

ICBC Financial Leasing, the aircraft leasing unit of China’s largest commercial lender, returned to the international bond markets for the first time this year, raising $2 billion via a dual-tranche deal.

The A1AA rated group garnered more than $5.75 billion of orders from Reg S investors at peak level, before the order book closed at $4.9 billion, according to a syndicate banker running the deal. That attracted almost double the $2.6 billion...

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