Increase capital adequacy ratio ICBC issued 22 billion subprime debt in Friday

September 7, the Central clearing company website announced that ICBC will issue 22 billion yuan from 10th this month, fixed-rate subordinated debt, issued to the interbank market members.　　The proceeds from the issuance of debt will be used to enrich the subsidiary capital, increase the capital adequacy ratio and issue subordinated debt which has been approved by the CBRC and the People's Bank. It is reported that the current issue of ICBC bonds are divided into two categories, of which the 10-year fixed interest rate, the planned issue scale of 7 billion yuan, 15-year fixed interest rate category of the plan issued on the scale of 15 billion yuan.　　The average starting date is September 14, 2010, and both types of bond ICBC have the right to advance redemption. The above two varieties of subordinated debt are fixed interest rate, the par-year rate will be through the bookkeeping, centralized placement of the way to determine the duration of the bond, fixed, the use of simple annual interest, regardless of compounding, overdue interest.　　This issue is payable on a yearly basis, with a one-time payment of principal at the date of honour.　　Announcement information shows that the current issue of the introduction of a callback mechanism, the issuer and the bookkeeping manager will be issued in accordance with the current issue of the purchase of the issue, within the scope of the planned distribution, determine the specific proportions of the two bond varieties and the size of the issue. The joint principal underwriters of this issue are CITIC Securities, CICC and credit founder Securities.　　The credit rating of this issue is AAA, and the issuer's principal rating is AAA, according to the rating results of the China Integrity International credit ratings limited liability company.　　The reporter learned that, as ICBC's assets continued to grow, the scale of risky assets also expanded, the capital adequacy ratio has declined correspondingly.　　As at the end of June 2010, ICBC's capital adequacy ratio was 11.34%, and the core capital adequacy ratio was 9.41%, which fell 0.49% and 1.02% respectively from the end of 2009, and there was still a gap between the CBRC and the new capital adequacy ratio of the large bank 11.5%. In April this year, ICBC's "Capital plan for the 2010 to 2012" showed that the bank planned to maintain its capital adequacy ratio at around 12.4% per cent during the year, with a capital adequacy rate of around 12.3% per cent for the year after tomorrow, while the core capital adequacy ratio remained at around 10.2% per cent in the planned years.　　The core capital adequacy ratio remains at around 10.1% in the year after tomorrow. It is noteworthy that ICBC at the October 2008 general Meeting of shareholders approved a bill to issue no more than 100 billion yuan of subprime debt by the end of 2011, the bank has issued a 40 billion-yuan subordinated debt last year. Recently, ICBC launched a 25 billion-yuan a-share convertible bonds issued, the proceeds will be used to replenish capital, at the same time, the Bank also strive to complete the total amount of up to 45 billion yuan a+h rights issue financing.