ICBC set for year-end epic with triple currency AT1

Bond investors are bracing themselves for what is widely seen as the last blockbuster trade of the year, with Industrial and Commercial Bank of China (ICBC) on the road for a $5.7bn additional tier one (AT1) deal. ICBC's deal, while slightly smaller than Bank of China's recent $6.5bn AT1, is nonetheless set to steal the spotlight through its triple-currency structure that includes a record-breaking offshore renminbi portion, writes Rev Hui.