ICBC Asia tests investor appetite with first sub-debt dim sum

It is also poised to be the first Asian bank to issue Basel III compliant capital.

ICBC Asia tests investor appetite with first sub-debt dim sum

Industrial Commercial Bank of China Asia yesterday launched its benchmark lower tier-2 issue, in what is the first subordinated bond in the nascent offshore renminbi bond market. The bank is also poised to be the first Asian bank to issue Basel III compliant debt. 

ICBC Asia’s 10-year non-call five-year bond was marketed to investors in the area of low 6% Thursday afternoon and is expected to price as early as today. A benchmark deal...

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