Cleary Gottlieb represented Credit Suisse AG and BNP Paribas (Suisse) SA as joint bookrunners and lead managers in a Reg. S offering by Industrial Bank of Korea of CHF 250 million 0.0219% notes due 2025 under its $8 billion global medium-term note program.
The notes were listed on the SIX Swiss Exchange Ltd. The offering priced on March 26, 2019, and closed on April 16, 2019.
Industrial Bank of Korea, established pursuant to the Industrial Bank of Korea Act, was incorporated in 1961 by the Korean government to provide development finance and related banking services to small- and medium-sized Korean enterprises. As a specialized bank that serves the government’s public policy objectives, Industrial Bank of Korea is treated as a special juridical entity and is not subject to certain laws regulating commercial banks.