ICBC picks LSE for 1st global bond
Print Edition
THE Industrial and Commercial Bank of China, the country’s largest lender by assets, raised US$300 million by launching its first international bond on the London Stock Exchange yesterday, as part of a US$10 billion medium-term note program.
The three-year bond is the first dollar-denominated issue by a Chinese lender on the London Stock Exchange’s Main Market, the ICBC said.
“We are proud to have listed our MTN program on the London Stock Exchange’s Main Market. This is a first ... emphasizing the UK’s importance to our global strategy,” said Jin Chen, general manager of ICBC’s London branch.
Nikhil Rathi, CEO of LSE and director of international development, said the landmark listing on London Stock Exchange demonstrates the UK’s position as the leading gateway for leading Chinese firms looking to access global capital.
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