Import/Export Credit Facilities
Our lawyers first took part in the import and export credit operations of Chinese banks at the beginning of the 1980s and, at the request of the Bank of China, then the sole bank authorized to operate a foreign exchange business, provided legal services for its import/export credit business.
King & Wood's involvement in this field has been deepened and broadened as many of the renowned Chinese policy banks and commercial banks have expanded their import/export credit business volumes. In these transactions, we provide the banks with opinions and suggestions, participate in the design of financing structures, draft and negotiate loan and security documents, and issue formal legal opinions.
King & Wood lawyers have been involved in the following transactions:
- Assisting China Export-Import Bank in drafting and preparing standard documentation for buyer’s credit facilities and preferential governmental loans.
- Acting as legal counsel to the Export-Import Bank of China in projects including its provision of a buyer’s credit facility to a Norwegian shipping corporation for its ship purchases. We prepared financing documents and attended negotiations for such projects.
- Acting as legal counsel to Industrial and Commercial Bank of China (ICBC) in its granting of a buyer’s credit facility to a Zambian bank.
- Acting on behalf of China Construction Bank (CCB) in its granting of a buyer’s credit facility to Russian parties and Nigerian parties.
- Acting on behalf of Export-Import Bank of China in connection with its financing to the Angola government.