Korean law firm Yoon & Yang has advised the Industrial Bank of Korea on the establishment of an $8 billion debt program.

The deal will allow the state-owned bank to issue global medium term notes on the Singapore Exchange to raise funds for general corporate purposes. The securities will be available to overseas investors under Rule 144A/Regulation S.

Partner Kwon Hoe Kim of 227-lawyer Yoon & Yang was counsel to the issuer. The Seoul-based firm has previously advised IBK on matters including setting up an investment trust. It also represented the bank as one of three lenders targeted in an $88 million derivatives claim launched in 2008.

The deal’s 12 underwriters, led by Deutsche Bank A.G., turned to Cleary Gottlieb Steen & Hamilton partner Jinduk Han, who leads the firm’s Korea practice from its Hong Kong office.

Partner Marilyn See led a team from Singapore law firm Shook Lin & Bok, which acted as listing agent for the deal.

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