Hyundai Heavy Industries and KDB in $300 Million Green Notes Offering
March 28, 2022
Cleary Gottlieb represented Hyundai Heavy Industries Co. Ltd. (HHI) and the Korea Development Bank (KDB) in a Reg S offering by HHI of $300 million 3.179% green notes due 2027 guaranteed by KDB.
The offering priced on March 21, 2022, and closed on March 28, 2022. The notes were listed on the Singapore Exchange. BNP Paribas, HSBC, KDB, and Standard Chartered Bank were the joint lead managers for the offering.
HHI is a leading fully integrated global shipbuilding company possessing complementary offshore industrial plant and engine design and manufacturing capabilities. As the flagship shipbuilding company of the broader HHI Group, HHI provides total shipbuilding solutions to its global customers, all in-house from design, engineering, and fabrication to outfitting and testing.
KDB was established in 1954 as a government-owned financial institution pursuant to the Korea Development Bank Act, as amended. Since its establishment, KDB has been the leading bank in Korea with respect to the provision of long-term financing for projects designed to assist Korea’s economic growth and development.