Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., J.P. Morgan Securities plc, Merrill Lynch International, Mizuho Securities Asia Limited and UBS AG, Hong Kong Branch as dealers, in connection with the update of the $11 billion Global Medium Term Note programme of Korea Electric Power Corporation. In addition, Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., J.P. Morgan Securities plc, Merrill Lynch International, Mizuho Securities Asia Limited and UBS AG, Hong Kong Branch, as joint lead managers, in connection with the offering of $1 billion 5.375% Senior Unsecured Notes due 2026 by Korea Electric Power Corporation under its Global Medium Term Note programme. The Notes have been issued as “Sustainability Bonds”, and Korea Electric Power Corporation intends to allocate an amount equal to the net proceeds from the offering to finance or refinance Eligible Green Projects and/or Eligible Social Projects, as defined in the KEPCO Sustainable Finance Framework. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.
Korea Electric Power Corporation is an integrated electric utility company engaged in the transmission and distribution of substantially all of the electricity in Korea. Through its six wholly-owned generation subsidiaries, Korea Electric Power Corporation also generate the substantial majority of electricity produced in Korea. As a predominant market participant in the Korean electric power industry, Korea Electric Power Corporation is providing a full range of services such as power plant construction and specialized engineering and maintenance services primarily in Korea. Korea Electric Power Corporation is listed on the Korea Exchange and the New York Stock Exchange.
The Simpson Thacher team for the transaction included Jin Hyuk Park, Joongwon Park, Chanik Park and William Son (Corporate – Hong Kong); Jonathan Cantor and Scott Grundei (Tax); Jeanne M. Annarumma (ERISA); and Jennie Getsin (Blue Sky).