Minera y Metalúrgica Del Boleo in Guaranteed Notes Offering

July 1, 2015

Cleary Gottlieb represented Bank of America Merrill Lynch as sole bookrunner and lead manager, in a Reg S offering of $120 million 2.875% guaranteed notes due 2019 issued by Minera y Metalúrgica Del Boleo and guaranteed by Korea Resources Corporation. The notes were listed on the Singapore Exchange. The offering priced on June 24 and closed on July 1.

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 and owns 70% of Minera y Metalúrgica Del Boleo, S.A.P.I. De C.V., a mining operation established primarily to engage in the extraction of copper in a copper-cobalt-zinc deposit located on the east coast of the Baja Peninsula in Mexico.