ANZ was sole lead manager and bookrunner for the two-year, HKD1 billion (USD129 million) floating rate certificate of deposit (FRCD) issue for ICBC (Macau), a majority-owned subsidiary of Industrial & Commercial Bank of China, the world’s largest bank by market capitalisation. The issue priced as a floating rate coupon of HIBOR plus 60 bps.
ANZ was also sole arranger of the USD800 million CD programme for ICBC (Macau).
ANZ Global Head of Bond Origination Reuben Tucker said: “This program will give ICBC (Macau) quick and easy access to further issuance under different currencies and tenors. ICBC (Macau) will be able to take advantage of future windows of opportunity to deliver more favourable pricing and improve its funding flexibility.
“ANZ delivered the first issue under this program, providing a significant inaugural benchmark transaction. ANZ has also created a key pricing reference point for ICBC (Macau)’s future funding requirements and provided a flexible and price-competitive additional source of funding for ICBC (Macau)’s growth plans.”
Tony Cheung, Chief Investment Officer of ICBC (Macau) said: “Our management were especially impressed that the whole structure of the transaction not only catered for our current needs but also provided enough flexibility to capture any new developments in the regional debt capital markets. We want to express our sincere thanks to the dedication of ANZ’s Capital Markets, Financial Institutions, Relationship Management and Transaction Management teams for making this transaction a timely, efficient and successful one.”
ANZ is one of the largest international banks in the Asia Pacific region. It has assets of AU$507 billion and a long-term credit rating of AA (Standard & Poor’s).
ANZ offers a full range of international banking services in Hong Kong across Institutional and Corporate Banking, Financial Markets, Trade Finance, SME Banking and Retail Banking. ANZ Hong Kong also operates as a hub to meet the offshore banking needs of affluent individuals and corporates. ANZ has a network of 34 branches and is a full commercial bank in the Greater China markets of China, Hong Kong and Taiwan.