On 20 April 2017, CITIC Securities Co., Ltd. (CITIC Securities), advised by King & Wood Mallesons, successfully updated its $3 billion medium-term notes (MTN) programme and the drawdown thereunder. The notes are issued by CITIC Securities Finance MTN Co., Ltd., a wholly-owned subsidiary of CITIC Securities, and guaranteed by CITIC Securities.

CITIC Securities is a leading full-service investment bank in China. Its US$800 million notes were issued in two tranches – US$300 million notes due in 2020 and US$500 million due in 2022. The MTN programme update and drawdown will help CITIC Securities refine its financing structure.

KWM acted as international and PRC legal counsel for CITIC Securities. The international legal team was led by partners Christine Chen, Jia Liu and Richard Mazzochi and comprised of Annie Shen, Heidi Chiu, Lu Tan and Siyu You, and the PRC legal team was led by partner Yanyan Song and comprised of Yangguang Dong and Shenglan Li.

In this transaction, KWM’s international and PRC legal teams worked closely to once again demonstrate our outstanding execution capabilities and the firm’s strengths in financial institutions and capital markets practice areas.