The Korea Development Bank in $750 Million Notes Reopening

July 5, 2012

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $500 million 3.500% notes due 2017. The transaction was a reopening of a takedown from KDB’s shelf registration statement under Schedule B of $750 million 3.500% notes due 2017 issued on February 22. The deal closed on July 5. The notes were listed on the Singapore Exchange. Barclays, Citigroup, KDB Asia, Standard Chartered Bank and UBS Investment Bank 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.