ICBC HK markets dual-tranche FRNs
Industrial and Commercial Bank of China’s Hong Kong branch is marketing a floating rate Reg S transaction featuring a three and a five year, having recently raised $1.1bn from a similar deal.
Initial price guidance for the new three year was set in the 100bp over three month Libor area, and for the five year at the 110bp over area.
Bank of America Merrill Lynch, HSBC, ICBC, National Australia Bank and Standard Chartered are working on the deal as joint global
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