ICBC (Asia) acquires -- 2 (loan yields at 25 basis pts above LIBOR)

ICBC (Asia) said the maturity of the 580 mln hkd subordinated debt is 10 years and will carry an interest rate of 25 basis points above LIBOR.	    The statement said the business to be transferred to ICBC (Asia) comprises assets and liabilities.	    Assets include trade bills, advances and other accounts, certificates of deposit, held to maturity securities, non-trading securities, amount due from the parent and fixed assets, the statement said.	    It added the liabilities include current, fixed, savings, and other deposits of customers, other accounts and provisions and amounts due to the parent and fellow branches.	    ICBC (Asia) said after the asset acquisition, the bank's non-performing loan ratio will be reduced to 15.3 pct from the 23.2 pct recorded at the end of 2000.	    ICBC (Asia) said after the acquisition, the bank will become the flagship of ICBC's banking business in Hong Kong and will be able to capitalise on ICBC Hong Kong branch's working relationship with more than 30,000 ICBC branches throughout China. 

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