Minera y Metalúrgica del Boleo’s $400 Million Notes Offering

April 26, 2019

Cleary Gottlieb represented Citigroup, Crédit Agricole CIB, HSBC, and J.P. Morgan, as joint bookrunners and joint lead managers, in connection with the update of Korea Resources Corp.’s (KORES) $5 billion global medium-term note program and a Regulation S offering by Minera y Metalúrgica del Boleo S.A.P.I. de C.V. (Minera y Metalúrgica del Boleo) of $400 million aggregate principal amount of its 3.25% guaranteed notes due 2024, unconditionally guaranteed by KORES, under the program.

The offering priced on April 10, 2019, and closed on April 17, 2019. The notes were listed on the Singapore Exchange.

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