Simpson Thacher Represents Initial Purchasers in US$500 Million Debt Offering by Doosan Heavy Industries & Construction Guaranteed by The Export-Import Bank of Korea
04.28.15
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Simpson Thacher recently represented The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc as initial purchasers in connection with an offering of US$500 million aggregate principal amount of 2.125% Notes due 2020. The notes were issued by Doosan Heavy Industries & Construction Co., Ltd. and are guaranteed by The Export-Import Bank of Korea (“KEXIM”). The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933.
Doosan Heavy Industries & Construction is Korea’s largest and a leading international manufacturer of advanced power generation solutions and a leading provider of seawater desalination and water treatment solutions, as well as engaging in EPC projects for thermal power plants. KEXIM, a Schedule B issuer, is a statutorily created policy bank in Korea charged with promoting the export and competitiveness of Korean goods and services in the international markets through financing facilities and lending policies in line with the overall economic policies of the Korean government.
The Simpson Thacher team for the offering included Youngjin Sohn, Iksoo Kim and Jeongseok Jay Yu (Corporate); Jodi L. Sackel (Tax); Jennie Getsin (Blue Sky); and George Wang and Nicholas Ridley (Regulatory).