Kookmin Bank’s €500 Million Covered Bond Offering

July 15, 2020

Cleary Gottlieb acted as U.S. counsel to BNP Paribas, Citigroup, Crédit Agricole, HSBC, J.P. Morgan and Société Générale, as managers, and KB Securities, as co-manager, in a Reg. S offering by Kookmin Bank of €500 million 0.052% sustainability covered bonds under its $7 billion global covered bond program.

The notes were listed on the Singapore Stock Exchange. The offering priced on July 8, 2020, and closed on July 15, 2020.

Kookmin Bank is one of the largest commercial banks in Korea in terms of total assets (including loans), and it provides credit and related financial services to individuals, small- and medium-sized enterprises and large corporate customers. It also provides a full range of deposit products and related services to both individuals and enterprises of all sizes.