ICBC issues $10bn bond in London

In the first dollar-denominated issue by a Chinese mainland bank on the London Stock Exchange (LSE), the UK arm of the Industrial and Commercial Bank of China (ICBC)  last week launched a $10bn medium-term note (MTN) program in the City of London. “We are proud to have listed our MTN program on London Stock Exchange’s Main Market,” ICBC General, Manager Jin Chen said, adding that it highlighted “the UK’s importance to our global strategy.”
“The (bank’s) decision to issue this initial bond on London Stock Exchange demonstrates the UK’s position as the leading gateway for leading Chinese firms looking to access global capital in the full range of currencies,” LSE’s  CEO and Director of International Development  Nikhil Rathi claimed at the launch ceremony.

Source: chinadaily