Advised The Korea Development Bank on Issuance of Approximately USD 2 Billion Global Bonds

Lee and Ko advised The Korea Development Bank (“KDB”) in its issuance of approximately USD 2 billion global bonds. 

This global bond was issued as a multi-tranche, fixed-rate bond, with 3-year maturity tranche of USD 1 billion, 5-year maturity tranche of EUR 500 million and 10-year maturity tranche of USD 450 million. Despite the volatility in the financial market at the time of the issuance of the bond caused by the prospect of the U.S. interest rate hike, KDB was able to successfully raise the funds and has reaffirmed global investors’ strong interest and confidence in South Korean bonds.

For this transaction, Lee & Ko advised KDB on various matters in relation to the issuance, including advising on applicable laws and regulations, reviewing agreements and offering circular, and reviewing government permits and authorizations. As large-scale bond issuances similar to this transaction are carried out in accordance with the investment demands of global investors, prompt and timely fulfillment of relevant needs is of utmost importance. Lee & Ko successfully led the transaction by providing accurate and prompt advice to the parties of the transaction based on Lee & Ko’s profound experience and extensive knowledge in the matter.

Lee & Ko is recognized for its expertise in transactions in debt capital market, which are becoming increasingly important during the current market volatility. In addition to the aforementioned transaction, Lee & Ko advised other notable transactions including POSCO’s issuance of USD 700 million bonds, Lotte Property & Development’s issuance of USD 300 million bonds, and Korea Hydro & Nuclear Power Co., Ltd’s issuance of USD 700 million bonds in the second half of 2022.