The Industrial and Commercial Bank of China’s Macau branch (ICBC Macau) has issued MOP2 billion (US$2.5 million) senior unsecured bonds earlier this week, marking the first public bond issuance in the city since the implementation of its own registration system.
According to the bank, the bond issuance, which took place on 19 December, was conducted through the Macao Central Securities Depository and Clearing (MCSD), a company fully owned by the Monetary Authority of Macao.
With ICBC Macau as the clearing bank, the funds raised will “enhance liquidity and support the development strategy” of the Macau government.
The entire process, from filing to pricing, took less than a month, with MCSD registration completed in just four working days, the bank said.
A new legal framework governing the city’s financial system became effective in November, allowing for an transition from an approval system to a registration system.
The bank said that participating investors included local banks, foundations, businesses, and individuals, with about 40 investors ultimately granted the bonds.
