Hynix Semiconductor Inc. in $583.4 Million Convertible Notes Offering

December 14, 2007

Cleary Gottlieb represented Hynix Semiconductor Inc. in its offering of $583,400,000 4.50% convertible notes due 2012. The notes, which are convertible into Hynix common shares or global depositary shares, were sold pursuant to Regulation S and are listed on the Singapore Stock Exchange. Credit Suisse, Goldman Sachs International, Macquarie, Morgan Stanley, Korea Development Bank and Woori Investment & Securities acted as joint bookrunners. The offering closed on December 14.

Hynix, a leading memory semiconductor company, 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 22.0% in the first nine months of 2007. In addition, it is the third largest provider of NAND flash memory in terms of revenue, with a worldwide market share of 16.6% in the first nine months of 2007.