Cleary Gottlieb represented Barclays, Citigroup, Deutsche Bank, HSBC, Korea Development Bank and UBS as joint bookrunners and joint lead managers in a Rule 144A/Reg. S offering by Korea National Oil Corporation of $500 million 2.75% notes due 2019 and $500 million 4.00% notes due 2024 under its $8 billion Global Medium Term Note Programme. The offering priced on January 15, 2014 and closed on January 23, 2014.
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.
