Paul Hastings Advised Korea Ocean Business Corporation On $600 Million Dual-Tranche Notes Issuance
Paul Hastings Advised Korea Ocean Business Corporation On $600 Million Dual-Tranche Notes Issuance
Paul Hastings LLP served as the exclusive international counsel for Korea Ocean Business Corporation (KOBC) in its issuance of $300 million 5.375% Senior Unsecured Notes due in 2027 and $300 million 5.250% Senior Unsecured Notes due in 2029 under its Medium Term Note Program. This offering was executed in compliance with Regulation S of the U.S. Securities Act of 1933, as amended, and the Notes were subsequently listed on the Singapore Exchange Securities Trading Limited.
BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank N.V. Singapore Branch, J.P. Morgan Securities plc, and Standard Chartered Bank served as joint lead managers and joint bookrunners, with KB Securities Co., Ltd. participating as a Co-Manager.
Paul Hastings also provided assistance to KOBC and the dealers in updating KOBC’s $5 billion Medium Term Note Program, a process that concluded on April 9, 2024.
KOBC, established under the Korea Ocean Business Corporation Act of the Republic of Korea, operates as a statutory juridical corporation. It serves as the primary government-owned policy finance institution for domestic shipping companies. KOBC's distinctive role involves offering a consistent funding source to Korean shipping companies and engaging in diverse investments to foster the growth and stability of the maritime transport sector.
Corporate Partner Iksoo Kim spearheaded the Paul Hastings Team, Accompanied by Associate Sye Myung Kim and Corporate Attorney David Park.
