Firm Represents JPMorgan in US$1 Billion Exchangeable Notes Offering by KCC Corporation, Korea's Largest Equity-Linked Deal of the Year
12.21.07
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Simpson Thacher recently represented J.P. Morgan Securities Ltd. as the sole bookrunner and lead manager in connection with an offering by KCC Corporation of an aggregate US$1 billion exchangeable notes, which was Korea's largest equity-linked deal in 2007. The exchangeable notes were offered under Regulation S under the Securities Act and consisted of three tranches: US$278,000,000 Zero Coupon Exchangeable Notes due 2012 exchangeable into shares of KCC Corporation, US$272,000,000 Zero Coupon Exchangeable Notes due 2012 exchangeable into shares of Hyundai Heavy Industries Co., Ltd., and US$450,000,000 Zero Coupon Exchangeable Notes due 2012 exchangeable into shares of Hyundai Merchant Marine Co., Ltd.
KCC Corporation is the largest manufacturer of paint products and construction materials in Korea, as well as one of the two largest manufacturers of glass products in Korea, and listed on the Korea Exchange.
The Simpson Thacher attorneys who contributed to the successful completion of this transaction include Jin Park, Kristina Kang and Jason Jeong in Hong Kong and Jonathan Cantor and Jonathan Goldstein (Tax) in New York.