Korea National Oil Corporation in $250 Million and $550 Million Dual Tranche Takedown

July 10, 2014

Cleary Gottlieb represented Barclays, BNP PARIBAS, Citigroup, Deutsche Bank and Société Générale Corporate & Investment Banking as joint bookrunners and joint lead managers in a Rule 144A/Reg. S dual tranche offering by Korea National Oil Corporation $250 million 2.75% notes due 2019 (a reopening of $500 million 2.75% notes due 2019 issued on January 23) and $550 million 3.25% notes due 2024 under its $8 billion Global Medium Term Note Programme. The offering priced on July 2 and closed on July 10.

Korea National Oil Corporation was incorporated in 1979 under the Korea National Oil Corporation Act to serve as the executing body for oil-related policies of the Korean Government. It is Korea’s largest oil and gas developer and is wholly owned by the Korean Government.