ICBC NZ launches three-year domestic FRN

Wednesday, 06 June 2018

Industrial and Commercial Bank of China New Zealand (ICBC NZ) (A/A1) launched a NZ$75 million (US$52.7 million) floating-rate (FRN), three-year domestic deal on 6 June, with an indicative margin of 110 basis points over three-month bank bills. The forthcoming deal is expected to price the day after launch, via lead managers ANZ and Westpac New Zealand.

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KangaNews is the trading name of BondNews Limited, a company registered in the UK and Australia. With our head office in Sydney and a satellite office in Europe, we are positioned to provide a one-stop information service on the Australasian fixed-income markets.

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