ICBC Leasing lands $1.3b bond

The aircraft leasing unit of ICBC targets international expansion in the face of slowing growth at home.

ICBC Leasing, the aircraft leasing unit of China's largest lender ICBC, returned to the international bond markets on Thursday with a US dollar-denominated bond, raising $1.3 billion through a three-tranche offering.

The sale comes shortly after its major rivals BOC Aviation and China Aircraft Leasing Group completed their fundraising exercise in the dollar market. The former sold a $750 million 3.875% 2026 bond in mid-April, while the latter issued a $300 million 5.9% three-year note in late April.

Rated A2AA, ICBC Leasing priced the 144AReg S transaction during New York hours after generating a final order book of $3 billion before final...

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