SEOUL, South Korea – March 29, 2022 – Greenberg Traurig (“GT”) represented BNP PARIBAS, HSBC, The Korea Development Bank (“KDB”) and Standard Chartered Bank as joint lead managers in a Reg. S offering of US$300,000,000 3.179% Guaranteed Senior Unsecured Green Notes due 2027 by Hyundai Heavy Industries Co., Ltd. (“Hyundai Heavy Industries”) guaranteed by KDB. The offering priced on March 21 and closed on March 28. The notes were listed on the Singapore Exchange.
KDB was established in 1954 as a government-owned financial institution pursuant to The Korea Development Bank Act. Since its establishment, KDB has been the leading bank in the provision of long-term financing for projects designed to assist Korea’s economic growth and development.
Hyundai Heavy Industries is a leading fully integrated global shipbuilding company possessing complementary offshore industrial plant and engine design and manufacturing capabilities. As the flagship shipbuilding company of the broader HHI Group, Hyundai Heavy Industries provides total shipbuilding solutions to its global customers, all in-house from design, engineering and fabrication to outfitting and testing.
The principal GT lawyers on the transaction were Eun Sang Hwang of the Seoul office and Godric Shoesmith of the New York office. Dorothee Fischer-Appelt of the London office advised on English law matters.