Nasdaq Dubai welcomes listing of five bond issuances totaling US$ 2.68bln by Industrial and Commercial Bank of China Limited

Nasdaq Dubai welcomes listing of five bond issuances totaling US$ 2.68bln by Industrial and Commercial Bank of China Limited

Dubai: Nasdaq Dubai today welcomed the listing of landmark five-tranche carbon-neutrality-themed bonds worth a total amount of US$ 2.68 billion by the Industrial and Commercial Bank of China Limited (ICBC), the world’s largest bank by assets. These five-tranche notes were issued by ICBC’s branches in the Dubai International Financial Centre (DIFC), Hong Kong, London and Singapore.

ICBC Dubai (DIFC) Branch was responsible for the CNH-denominated tranche for the multi-currency issuance, pricing a two years CNH 2 billion note at 3.20%. The note is the first ever carbon-neutrality theme bond issued in the GCC region and the largest CNH-denominated public bond issued within the ICBC Group. The notes generated a warm reception from investors and the final pricing was tightened by 55 basis points compared to the initial guidance, with order books exceeding CNH 14 billion by the time the final guidance was disclosed.

The other tranches included a 3 years EUR 300 million note at 1.625%, a 2 years HKD 2 billion note at 2.95%, a 3 years USD 1.2 billion note at 2.95% and a 3 years US$ 600 million floating rate note.

To celebrate the listing, His Excellency Li Xuhang, Consul General of the People’s Republic of China in Dubai, rang