Asia
ICBC Sells 50 Billion Yuan Bonds
Industrial and Commercial Bank of China (HKG:1398, SHA:601398) completed the issue of 50 billion yuan of bonds in the National Interbank Bond Market, according to a Friday Hong Kong bourse filing.The tranche of bonds carries a fixed interest rate of 2% and will fall due in 10 years. The issue has a conditional redemption right at the end of the fifth year.The lender will use proceeds to boost its tier 2 capital.
HKG:1398SHA:601398
