Cleary Gottlieb represented SK Telecom Co., Ltd. in its issuance of $400 million of 6.625% notes due 2027, which were sold pursuant to Rule 144A and Regulation S, and are listed on the Singapore Stock Exchange. Credit Suisse, Merrill Lynch & Co. and Morgan Stanley led the offering, which priced on July 13 and closed on July 20.
SK Telecom is Korea’s first and leading wireless telecommunications service provider. As of December 31, 2006, the company had 20.3 million Korean subscribers, of which 19.6 million owned data-capable handsets (handsets that support cellular voice and data transmission), and the company’s share of the Korean wireless market was 50.4% based on number of subscribers.