By Scott Murdoch
SYDNEY (Reuters) -Industrial and Commercial Bank of China (ICBC) is planning a multi-currency carbon neutrality-themed green bond deal, according to a term sheet seen by Reuters on Wednesday.
The deal is due to be carried out through ICBC’s Hong Kong, Singapore and Dubai branches, the term sheet said.
ICBC did not immediately respond to a request for comment from Reuters.
The bank is planning to issue U.S. dollar bonds through its Hong Kong and Singapore branches and offshore yuan bonds through its Dubai branch, the term sheet said.
The size of the bond was not set out in term sheets or regulatory filings made by ICBC.
ICBC, the world’s largest lender, highlighted in the risk factors of the bonds’ offering documents the U.S.-China trade war could impact its business.
“There are uncertainties as to when and whether the trade disputes will be resolved and trade barriers lifted,” the documents said.
“All these would add to the uncertainties relating to the overall prospects for the global and the PRC economies this year and beyond, which may have a material adverse impact to our business, prospects, financial conditions and results of operations,” it said, referring to the People’s Republic of China.
The U.S. and China agreed this week to temporarily slash extra tariffs they imposed on each other, with the U.S. cutting its levy to 30% from 145% and China reducing its duties on U.S. imports to 10% from 125% for the next 90 days.
(Reporting by Scott Murdoch; Additional reporting Ziyi Tang in Beijing; Editing by Himani Sarkar and Sonali Paul)
