Korea Gas Corporation in $500 Million GMTN Takedown

July 29, 2013

Cleary Gottlieb served as U.S. counsel to Korea Gas Corporation in its Rule 144A/Reg S offering of $500 million 2.875% Notes due 2018, which was a takedown from its $5 billion Global Medium Term Note Program. The notes were listed on the Singapore Exchange. BofA Merrill Lynch, Credit Suisse, Deutsche Bank, Goldman Sachs International and HSBC served as joint bookrunners and joint lead managers and Korea Development Bank served as a joint lead manager in the transaction. The offering priced on July 22 and closed on July 29.

Korea Gas Corporation was incorporated in 1983 by the Korean government to facilitate the development of the natural gas industry in Korea. It is the largest importer of liquefied natural gas in the world and the only wholesale distributor of natural gas in Korea.