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Debt Advisory
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Debt Advisory

- US Public Finance
- Credit Enhancement Business

US Public Finance business – letters of credit, liquidity facilities, standby lines of credit, revolving lines of credit, and loans primarily in support of municipal variable rate demand bonds (VRDBs) with investor “put” options and tax-exempt Commercial Paper (CP). Our ICBC-NY direct-pay letters of credit provide credit enhancement and liquidity support to facilitate VRDO execution with money market investors under SEC Rule 2a-7. Public finance sectors include tax-supported issuers, public transportation issuers (such as airports, transit and highway authorities), local and state government entities, and public utilities (such as municipal water and electric providers) in the US.

Credit Enhancement business – letters of credit and standby lines of credit primarily supporting US CP issuance, with a main focus on L/Cs for Chinese companies issuing CP the US CP markets. We can also help our customers navigate the CP issuance process with respect to dealers, depositary agents, and counsel.

Panda Bonds – Discuss the possibility for US entities to issue bonds in RMB for potential lower interest rates and diversification of investors; tap into ICBC Head Office’s deep experience in this market.