Cleary Gottlieb represented Doosan Power Systems SA (DPS), as issuer, and The Export-Import Bank of Korea (KEXIM), as guarantor, in a Reg. S offering by DPS of $300 million senior capital securities guaranteed by KEXIM.
The offering priced on October 18, 2018 and closed on October 25, 2018. The securities were listed on the Singapore Exchange. HSBC, Société Générale Corporate & Investment Banking, and Standard Chartered Bank were the joint lead managers for the offering.
DPS is a leading international provider of power plant equipment and maintenance, repair, and overhaul services. It is also a member company of the Doosan Group, which was founded in 1896 and is one of the twenty largest business groups in Korea.
KEXIM was established in 1976 as a special governmental financial institution pursuant to the Export-Import Bank of Korea Act to promote the sound development of the Korean economy and economic cooperation with foreign countries by extending the financial aid required for export and import transactions, overseas investment, and the development of natural resources abroad.