Kookmin Bank’s $500 Million Offering

Cleary Gottlieb acted as U.S. counsel to BNP Paribas, Bank of America Merrill Lynch, Citigroup, Crédit Agricole CIB, J.P. Morgan, and Mizuho Securities, as joint bookrunners and joint lead managers, and KB Securities, as co-manager, in a Rule 144A/Reg. S offering by Kookmin Bank of $500 million 4.35% Tier-1 sustainability subordinated notes under its $8 billion global medium-term note program.

The notes were listed on the Singapore Stock Exchange. The offering priced on June 25, 2019, and closed on July 2, 2019.

Kookmin Bank is one of the largest commercial banks in Korea in terms of total assets (including loans) and 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.