ICBC plans multi-currency, short-to-medium carbon neutral green bonds

By Rebecca Melvin

Concord, N.H., Oct. 20 – Industrial and Commercial Bank of China Ltd. plans to sell multi-currency short-to-intermediate maturity, fixed-rate senior unsecured carbon neutrality-themed green bonds (expected rating: A1), according to a syndicate source on Wednesday.

The lender is issuing the bonds through five bank branches including Hong Kong, Singapore, Luxembourg, London and Macau. The Regulation S only deal is being sold under the lender's medium-term note program, subject to market conditions.

The Hong Kong Branch has mandated ICBC, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China, BNP Paribas, China Construction Bank (Asia), China Everbright Bank Hong Kong Branch, Citigroup, Credit Agricole CIB, HSBC, Standard Chartered Bank and UBS as joint global coordinators, joint lead managers and joint bookrunners and Bank of Communications, China International Capital Corp., China Securities International, CLSA, CMB Wing Lung Bank Ltd., CMBC Capital, CBA, Industrial Bank Co., Ltd. Hong Kong Branch, KDB Asia, BofA Securities and Shanghai Pudong Development Bank Hong Kong Branch as joint lead managers and joint bookrunners for proposed U.S. dollar-denominated fixed-rate green bonds.

The Singapore Branch has mandated ICBC, Credit Agricole CIB, DBS Bank Ltd., HSBC, SMBC Nikko and Standard Chartered Bank as joint global coordinators, joint lead managers and joint bookrunners and Agricultural Bank of China Ltd., ANZ, Bank of China, Bank of Communications, the Bank of East Asia, Ltd., China Construction Bank (Asia), China Everbright Bank Hong Kong Branch, China International Capital Corp., China Minsheng Banking Corp., Ltd., China Securities International, Citigroup, CLSA, CMB Wing Lung Bank Ltd., E.SUN Bank, First Abu Dhabi Bank, Guotai Junan International, Industrial Bank Co., Ltd. Hong Kong Branch, Maybank, Mirae Asset Securities (Singapore), MUFG, National Australia Bank Ltd., OCBC Bank, Shanghai Pudong Development Bank Hong Kong Branch, SPDB International, UOB and Zhongtai International Securities (Singapore) Pte. Ltd. as joint lead managers and joint bookrunners for its proposed U.S. dollar fixed-rate green bonds.

Luxembourg Branch has mandated ICBC, Citigroup, Credit Agricole CIB, Natixis, Societe Generale as joint global coordinators, joint lead managers and joint bookrunners and ICBC, Bank of China, BIL, China Construction Bank, China International Capital Corp., Rabobank, Deutsche Bank, SEB and UBS Investment Bank as joint lead managers and joint bookrunners for its proposed euro-denominated fixed-rate green bonds.

London Branch has mandated ICBC, Barclays, Citigroup, Credit Agricole CIB, HSBC and Standard Chartered Bank as joint global coordinators, joint lead managers and joint bookrunners and Bank of China, BNP Paribas, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMBC Capital, DBS Bank Ltd., ICBC International and JPMorgan as joint lead managers and joint bookrunners for its proposed sterling-denominated fixed-rate green bonds.

And Macau Branch has mandated ICBC, ABOC Macao Branch, Banco Nacional Ultramarino, Bank of China Macau Branch, Bocom Macau Branch, CCB Macau Branch, CGB Macau Branch, Luso Bank Ltd. and Macau Chinese Bank as joint global coordinators, joint lead managers and joint bookrunners for its proposed Macanese pataca-denominated fixed-rate green bonds.

ICBC is based in Beijing.

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