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

January 22, 2014

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $750 million floating rate notes due 2017 and $750 million 3.75% notes due 2024. The transaction was a takedown from KDB’s shelf registration statement under Schedule B. The offering priced on January 13, 2014 and closed on January 22, 2014.

The notes were listed on the Singapore Exchange. Barclays, BNP PARIBAS, BofA Merrill Lynch, Citigroup, HSBC, KDB Asia, Morgan Stanley and Standard Chartered Bank 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.