The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

Deals of the Year 2011: ICBC (Asia)

ICBC (Asia)
Value Rmb1.5 billion 6% tier-2 sub-debt bonds, 10-year non-call five
Bookrunners HSBC, ICBC International, Bank of China HK, Credit Suisse, DBS, Goldman Sachs
return to the Asian Deals of the Year index

In 2011, the CNH market achieved a hectic graduation from nascent wild-west-style market to something approaching maturity and depth. The clearest illustration of this came with a Rmb1.5 billion [$240 million] subordinated bond from ICBC (Asia), owned by mainland banking heavyweight ICBC.

It was full of firsts. For a start, it was the first subordinated bond in the CNH market, and is expected to be followed by more. It was the first subordinated bond from Asia in any market to be Basle III compliant. And it brought 10-year tenor (this was a 10-year non-call five deal) to the CNH market, increasing its maturity.

"We had two hurdles to overcome," says Peter Leung, chief financial officer of ICBC (Asia). "First was the marketing and selling, but even before we started that, we had to do a lot of persuading of the regulators.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree