The Korea Development Bank in $750 Million Notes Offering

September 11, 2014

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $750 million 2.50% notes due 2020. The transaction was a takedown from KDB’s shelf registration statement under Schedule B. The offering priced on September 2 and closed on September 11.

The notes were listed on the Singapore Exchange. BNP PARIBAS, Merrill Lynch, Deutsche Bank, J.P. Morgan, KDB Asia, Mizuho Securities and Standard Chartered 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.