The Korea Development Bank in $750 Million Notes Offering

March 9, 2011

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $750 million 4.00% notes due 2016. The transaction was a takedown from KDB’s shelf registration statement under Schedule B. The deal closed on March 9.

The notes were listed on the Singapore Stock Exchange. BofA Merrill Lynch, HSBC, KDB Asia Ltd, The Royal Bank of Scotland, Standard Chartered Bank and UBS Investment Bank were the joint lead managers and bookrunners for the offering.

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.