Cleary Gottlieb represented BNP Paribas (Suisse) SA and UBS AG as joint lead managers in an offering of CHF $500 million 0.373 percent notes due 2023, by Korea National Oil Corporation (KNOC) under its $9 billion global medium-term note program.
The offering priced on May 15, 2018, and closed on June 1, 2018. The notes were listed on the SIX Swiss Exchange.
KNOC 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.