Log In
No results found for "".

Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
ICBCAS
Industrial and Commercial Bank of China Ltd (London Branch)£250
1APAC
Mar 9, 2026
currency
GBP
size (m)
250.000
maturity
Mar 16, 2029
type
Fixed
tenor
3.000
call
-
registration
Reg S Only
benchmark
G
ranking
Sr. Unsecured
moody's
A1
s&p
-
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
G+75 area
ipt-pxd
-22
guidance
n/a - straight to launch
spread
53
coupon
4.50%
spread set
-
price
99.66200
yield
4.623%
book size (m)
1,300
peak book (m)
1,480
x-covered
5.2
book attrition
-12.16%
nic
-
billing & delivering
active leads
BRC, CAG, HSB, ICB, ...
joint leads
BCI, CBI, CCB, CIC, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,300
peak book (m)
1,480
x-covered
5.2
book attrition
-12.16%
nic
-
billing & delivering
active leads
BRC, CAG, HSB, ICB, ...
joint leads
BCI, CBI, CCB, CIC, ...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1300; Registration: Reg S Only; Comments: GBP250m NG 3yr fxd cpn 4.50%, at 99.662, yld 4.623%, Spread: G+53bps. UKT 0 ½ 01/31/29 @ 90.415 (mid) / 4.041% (s/a);
Deal Comments
Reoffer: 3yr: UKT+53bp / 99.662 / 4.623% (ann.) / 4.571% (s.ann.) Benchmark: 3yr: UKT 0½ 31-Jan-29 @ 90.415 (mid) / 4.041% (s/a) Final Books: 3yr: Over £1.3bn (incl. £802m JLM interest + £75m additional "prop" as per SFC code) Spread Set: 3yr: UKT+53bp - Books over £1.48bn (incl. £997m JLM int + £75m additional prop per HKSFC) Update #1: Book > £1.29bn (incl. £997m JLM int + £75m additional prop per HKSFC) IPTs: 3yr: UKT+75bp area Issuer: Industrial and Commercial Bank of China Limited, London Branch LEI: 5493002ERZU2K9PZDL40 Issuer Ratings: A1 Negative/A Stable (Moody's/S&P) Expected Issue Ratings: A1 (Moody's) Format: Senior, Unsecured Currency & Size: £250m Tenor: 3-Year Reference Benchmark: UKT 0½ 31-Jan-29 @ 90.415 (mid) / 4.041% (s/a) Coupon: 4.5% Fixed, Annual, Act/Act (ICMA) Reoffer: 99.662 / UKT+53bp / 4.623% (ann.) / 4.571% (s.ann.) Pricing Date: 09-Mar-26 Settlement Date: 16-Mar-26 Maturity Date: 16-Mar-29 Use of Proceeds: General corporate purposes ISIN: XS3296391777 Common Code: 329639177 Listing: The Stock Exchange of Hong Kong Limited, London Stock Exchange (International Securities Market) and Luxembourg Stock Exchange (Euro MTF market) Clearing: Euroclear / Clearstream Denominations: £100,000 + £1,000 Governing Law: English Law Joint Global Coordinators, Joint Lead Managers & Joint Bookrunners: ICBC Standard Bank, Barclays, Crédit Agricole CIB, HSBC, J.P. Morgan, Natixis and Standard Chartered Bank Joint Lead Managers & Joint Bookrunners: ICBC, Agricultural Bank of China, Bank of Communications, China CITIC Bank International, China Construction Bank (Europe) S.A., China International Capital Corporation, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CITIC Securities, CMB Wing Lung Bank Limited, DBS Bank Ltd., Huatai International, Hua Xia Bank Co., Limited Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, Lloyds Bank Corporate Markets and Shanghai Pudong Development Bank Hong Kong Branch B&D: Standard Chartered Bank Timing: TOE: 12:59 UKT / FTT: 13:45 UKT 09-Mar-26
Use of Proceeds
General corporate purposes

Commentary

Explore all other Commentary & Deal Flow

Deal Flow

Explore all other Commentary & Deal Flow