Simpson Thacher – Korea Expressway Corporation Completes US$3.5 Billion GMTN Program Update and US$300 Million Notes Offering

Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., as arranger and dealer, and The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, The Korea Development Bank, Merrill Lynch International, Morgan Stanley & Co. International plc, Nomura International plc, Société Générale and UBS AG, Hong Kong Branch, as dealers, in connection with the update of the US$3.5 billion global medium term note program of Korea Expressway Corporation. In addition, Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., J.P. Morgan Securities plc and Société Générale, as joint lead managers, in connection with the offering of US$300 million 3.625% Senior Unsecured Notes due 2021 by Korea Expressway Corporation under its US$3.5 billion global medium term note program. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933, as amended.

Korea Expressway Corporation is a government-controlled entity which is engaged in the construction, operation and maintenance of expressways in Korea.

The Simpson Thacher team for the transaction included Jin Hyuk Park, Joongwon Park and Heesu Kim (Corporate – Hong Kong); and Robert Holo and Tyler Robbins (Tax).


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