Harvest Operations’ $285 Million Offering

September 21, 2017

Cleary Gottlieb represented Harvest Operations Corp. and Korea National Oil Corporation in a Reg. S/Rule 144A offering of $285 million 3.000 percent guaranteed notes due 2022 issued by Harvest Operations and guaranteed by Korea National Oil.

The notes were listed on the Singapore Exchange. The offering priced on September 14, 2017, and closed on September 21, 2017.

Established as a statutory juridical entity in 1979 under the Korea National Oil Corporation Act, Korea National Oil Corporation is a wholly state-owned enterprise that serves as the execution arm of the Korean government for oil-related policies and operations of Korea. Korea National Oil Corporation owns 100 percent of Harvest Operations Corp., a significant operator in Canada’s energy industry offering exposure to exploration, development and production of crude oil and natural gas and exploration and development of in-situ oil sand assets.