News & Events

Simpson Thacher represented J.P. Morgan Securities plc and Nomura Financial Investment (Korea) Co., Ltd., as joint global coordinators and joint bookrunners, in connection with the offering of US$500 million Subordinated Capital Securities by Heungkuk Life Insurance Co., Ltd. The offering was conducted in reliance upon Regulation S under the Securities Act of 1933, as amended. The securities will pay a fixed rate of interest of 4.475% for the first five years subject to certain exceptions and the interest rate will be reset every five years unless the issuer redeems the securities.

Heungkuk Life Insurance is one of the major mid-sized life insurance companies in Korea, offering a wide range of life insurance and investment products to retail customers as well as retirement pension plans and group life insurance products to institutional customers through a variety of distribution and marketing channels.

The Simpson Thacher team for the transaction included Youngjin Sohn and John Hahn (Corporate).