ICBC Successfully Completed First Domestic USD Bond Underwriting

Recently, being the joint lead underwriter and book builder, ICBC successfully helped China Import & Export Bank to issue a Phase I domestic USD bond with the total amount of USD 500 million in 2005.

Bonds issued in this phase were the first USD bond issued domestically by China Import & Export Bank, and also ICBC first time to participate in underwriting domestic USD bond acting as lead underwriter and book builder. ICBC successfully organized 15 institutional investors as members of underwriting group who are main China banks, insurance companies and foreign banks. Total subscription reached USD 760 million, which is 1.52 times of the subscription amount.

The successful issuance of this Bond is a good start for ICBC as lead underwriter and book builder of USD bond. It is a wealth of experience and a solid foundation for further development of ICBC in this field.