King & Wood Mallesons (KWM) has advised Industrial Bank Co., Ltd. (“Industrial Bank”) as international and PRC law counsel on its establishment of US$5 billion MTN programme and the first drawdown thereunder, the issuance of US$1 billion notes in two tranches – US$700 million 2% notes due 2019 and US$300 million 2.375% notes due 2021.

Industrial Bank is an established nationwide joint-stock commercial bank with strong competitiveness founded in August 1988 with its headquarter in Fujian Province in China. It is among the first batch of commercial banks the establishment of which was approved by the State Council and PBOC at the state level.

The KWM international team was led by Hong Kong-based partner Hao Zhou, supported by counsel Ian Hardee, senior associate Michael Lu and associates Tan Lu and Garrick Chung. The KWM PRC team was led by Shanghai-based partner Liu Dongya.