The Korea Development Bank in $1.5 Billion Dual Tranche Notes Offering

January 13, 2016

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $500 million 2.50% notes due 2021 and $1 billion 3.00% notes due 2026. The transaction was a takedown from KDB’s shelf registration statement under Schedule B. The offering priced on January 6 and closed on January 13.

The notes were listed on the Singapore Exchange. Barclays, Merrill Lynch, Citigroup, Credit Suisse, HSBC, KDB Asia, Mizuho and Société Générale were the joint bookrunnners for the offering.

KDB was established in 1954 as a government-owned financial institution pursuant to the Korea Development Bank Act, as amended. Since its establishment, KDB has been the leading bank in Korea with respect to the provision of long-term financing for projects designed to assist Korea’s economic growth and development.