Korea National Oil Corporation in $1 Billion Global Medium Term Note Takedown
April 03, 2012
Cleary Gottlieb represented Barclays, BNP Paribas, Deutsche Bank, HSBC, Korea Development Bank and Merrill Lynch International, as joint bookrunners and joint lead managers, in a Rule 144A/Reg S offering of $1 billion 3.125% notes due 2017 by Korea National Oil Corporation under its $6 billion Global Medium Term Note Programme. The notes were listed on the Singapore Exchange. The offering priced on March 26 and closed on April 3.
Korea National Oil Corporation was incorporated in 1979 under the Korea National Oil Corporation Act to serve as the executing body for oil-related policies of the Korean Government. It is Korea’s largest oil and gas developer and is wholly owned by the Korean Government.