Advertisement
| 17 May, 2017

ICBC Dubai launches $556mln in floating rate notes - lead

An employee counts money in a bank in Sarajevo March 19, 2012.

An employee counts money in a bank in Sarajevo March 19, 2012.

REUTERS/Dado Ruvic
DUBAI, May 17 (Reuters) - The Dubai branch of the Industrial and Commercial Bank of China (ICBC) has launched 500 million euro ($556 million) three-year floating rate notes at 60 basis points over Euribor, a document issued by one of the banks leading the deal showed on Wednesday.

Initial price guidance, released earlier on Wednesday, was in the 75-80 bps area over Euribor. Books for the transaction were surpassed 1.5 billion euros, according to the document.

BNP Paribas, ICBC (Asia), ICBC International and Standard Chartered are the joint global coordinators and they are joined by Citigroup and Credit Agricole as joint bookrunners.

($1 = 0.8994 euros)

(Reporting by Davide Barbuscia, editing by Louise Heavens) ((Davide.Barbuscia@thomsonreuters.com;))