Korea Resources Corporation in $500 Million Global Medium Term Note Takedown

Cleary Gottlieb represented Citigroup, Deutsche Bank, HSBC, The Korea Development Bank and Standard Chartered Bank, as joint bookrunners and joint lead managers, in a Rule 144A/Reg S offering of $500 million 2.125% notes due 2018 by Korea Resources Corporation under its $3 billion Global Medium Term Note Programme. The notes were listed on the Singapore Exchange. The offering priced on April 25 and closed on May 2.

Established as a statutory juridical entity in 1967 under the Korea Resources Corporation Act, Korea Resources Corporation is a wholly state-owned enterprise that serves as the execution arm of the Korean government for mineral resources-related policies of Korea. Korea Resources Corporation is mandated to secure a stable supply of key mineral resources, both domestically and overseas, that are strategically important to Korea’s economic development.