Citic Bank International prices $500 million of lower tier-2 bonds

Hong Kong-based Citic Bank International returns to the dollar market with a 10-year issue of subordinated lower tier-2 debt and a new brand.

Ending a two-and-a-half-year absence from the US dollar bond market, Citic Bank International Citic returned on Monday with a $500 million 10-year issue of subordinated lower tier-2 debt.

A window opened for the Hong Kong-based subsidiary of Chinese lender China Citic Bank to tap the market, and the deal was done in just 12 hours from announcement to pricing. Taking advantage of open windows and ensuring a swift intra-day execution has been the common feature for new issues during the...

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