HONG KONG, Sept 15 (IFR) - ICBC is marketing 10-year Basel III Tier 2 bonds in the Treasuries plus 295bp area.
The Chinese lender mandated itself, Bank of America Merrill Lynch, Goldman Sachs, HSBC and UBS as bookrunners for the US dollar notes.
The 144A/Reg S bonds will list in Hong Kong under New York law.
They are expected to price today and be rated BBB+/Baa3.
The bank last came to the international bond markets with an Additional Tier 1 transaction in December, comprising a $2.94 billion non-call five, a 12 billion renminbi non-call five and a 600 million euro non-call seven. All three tranches priced at 6 percent, the tight end of the guidance of 6.00-6.25 percent. (Reporting by Spencer Anderson; Editing by Vincent Baby and Daniel Stanton)