The Korea Development Bank in $1 Billion Dual Tranche Notes Offering

January 22, 2013

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered dual tranche offering of $500 million 1.00% notes due 2016 and $500 million 1.50% notes due 2018. The transaction was a takedown from KDB’s shelf registration statement under Schedule B. The deal closed on January 22, 2013.

The notes were listed on the Singapore Exchange. Barclays, BofA Merrill Lynch, Daiwa Capital Markets, Goldman Sachs International, HSBC, KDB Asia and UBS Investment Bank were the joint bookrunners 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.