The Korea Development Bank in $900 Million Notes Offering

September 9, 2010

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $900 million 3.25% notes due 2016. The transaction was a takedown from KDB’s shelf registration statement under Schedule B. The deal closed on September 9.

The notes were listed on the Singapore Stock Exchange. Barclays Capital, Citi, Crédit Agricole CIB, Deutsche Bank, J.P. Morgan and KDB Asia Ltd were the joint 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.