The Korea Development Bank in $750 Million Notes Offering
February 10, 2010
Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $750 million 4.375% notes due 2015. The transaction was a takedown from KDB’s shelf registration statement under Schedule B.
The notes were listed on the Singapore Stock Exchange. BofA Merrill Lynch, BNP Paribas, Daewoo Securities, HSBC and Morgan Stanley were the joint lead managers and bookrunners for the offerings.
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.