The Korea Development Bank in $1 Billion Notes Offering

November 4, 2011

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $1 billion 3.875% notes due 2017. The transaction was a takedown from KDB’s shelf registration statement under Schedule B. The deal closed on November 4, 2011.

The notes were listed on the Singapore Exchange. BofA Merrill Lynch, Credit Suisse, Daiwa Capital Markets Europe, Goldman Sachs International, KDB Asia Ltd, and Mizuho Securities were the joint lead managers and 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.