News Column

ICBC to Offer Tier 2 Bonds

July 31, 2014

BEIJING, July 31, SinoCast -- China Government Securities Depository Trust & Clearing Co. Ltd. (CDC) revealed that Industrial and Commercial Bank of China Limited (ICBC, SEHK: 1398, and SHSE: 601398) will offer CNY 20 billion ten-year fixed interest bonds in inter-bank market on August 4.

China Chengxin International Credit Rating Co., Ltd. (CCXI) gives AAA ratings for both the bonds and the issuer.

ICBC pointed out that the financing will be used for replenish tier 2 capital, lift up CAR, strengthen operational and anti-risk capacity and bolster up sustainable and sound development.

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Source: Sinocast Banking & Credit Beat (China)

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