
Core Viewpoint - Industrial Bank successfully assisted Morgan Stanley in issuing the first tranche of Panda bonds in the Chinese interbank market, marking a significant milestone as the first Panda bond issued by a US-based company [1] Group 1: Panda Bonds - The bond issuance has a scale of 2 billion RMB, a maturity of 5 years, and a coupon rate of 1.98% [1] - Panda bonds are a crucial fundraising tool for foreign institutions in the Chinese domestic market, denominated in RMB [1] Group 2: Industrial Bank's Role - Industrial Bank acted as a joint lead underwriter and bookrunner, showcasing its commitment to the opening of China's bond market [1] - The bank has served over 30 foreign clients, facilitating the issuance of more than 100 billion RMB in Panda bonds, covering various issuers including corporations, financial institutions, and multilateral organizations [1] - Over the past three years, Industrial Bank has maintained the leading position in the underwriting scale of foreign bonds among Chinese joint-stock banks [1] Group 3: International Business Strategy - The bank is building a comprehensive international business service system, integrating domestic and foreign, online and offline, and various currencies, contributing to China's high-level opening-up [1]