News & Events

Simpson Thacher recently represented Hyundai Heavy Industries Co., Ltd. (“Hyundai Heavy Industries”) in connection with its US$221.6 million offering of zero coupon guaranteed exchangeable bonds due 2020 exchangeable for common shares of Hyundai Merchant Marine Co., Ltd. The bonds are unconditionally and irrevocably guaranteed by The Korea Development Bank. The bonds have been offered in reliance upon Regulation S, under the Securities Act of 1933, as amended, and have been listed on the Singapore Stock Exchange.

Hyundai Heavy Industries is the world’s largest builder of commercial vessels based on maximum output and size of order book by compensated gross tonnage according to Clarkson (April 2015). The offering was led by The Korea Development Bank, Merrill Lynch International and The Hongkong and Shanghai Banking Corporation Limited.

The Simpson Thacher team for the transaction included Youngjin Sohn, Iksoo Kim and John Hahn (Corporate); and Jonathan Cantor and Taylor Alexander (Tax).