Will break new ground.
Bonds denominated in the U.S. dollar and compliant with the Basel III capital requirements will soon be offered by a subsidiary of Industrial & Commercial Bank of China (Asia) Ltd. based in Hong Kong.
The terms of the bond offering, however, and its scope, have not yet been finalized, reported The Wall Street Journal. Regional banks only sell bonds denominated in local currencies. An offering of dollar-based bonds could generate substantial visibility and will have global investors as its targets.
Wealthy private investors have been purchasing many of these Basel III-compliant debt-based securities, and bankers have cautioned that their strong desire for these bonds could eventually falter.
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