ICBC Asia triumphs with first Basel III dollar bond

The world's most profitable bank sold Asia’s first US dollar bond that complies with Basel III bank capital rules.
ICBC Asia is privately held by its parent, ICBC.
ICBC Asia is privately held by its parent, ICBC.

ICBC Asia successfully raised a $500 million 10-year Basel III-compliant Tier 2 subordinated note with a coupon of 4.5% on Thursday night, despite concerns that the debt is seen as riskier than other offerings in the market.

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