Hynix Semiconductor in $500 Million Convertible Notes Offering

May 14, 2010

Cleary Gottlieb represented Hynix Semiconductor in its offering of $500 million 2.65% convertible notes due 2015. The offered notes are convertible into Hynix Semiconductor’s common shares, which are listed on the Korea Exchange. The notes are listed on the Singapore Stock Exchange. Credit Suisse, the Royal Bank of Scotland, the Korea Development Bank, Woori Investment & Securities and KEB Asia Finance Limited acted as joint bookrunners. The joint bookrunners, together with NH Investment and Securities and Shinhan Investment, also served as joint lead managers. The offering closed on May 14.

Hynix Semiconductor is a leading memory semiconductor company that designs, manufactures and sells advanced memory semiconductor products. The company is one of the world’s largest manufacturers of DRAM, the most widely used memory chip in the electronics industry, and is ranked number two globally based on DRAM revenues with a market share of 21.6% in 2009. In addition, it is the third largest provider of NAND flash memory in terms of revenue, with a worldwide market share of 9.8% in 2009.