Written by Editor on 08 July 2014.
♦ Recent Deals ♦ Korea
Simpson Thacher recently represented Korea Gas Corporation in connection with the update of its US$8 billion global medium term notes program and offering of US$500,000,000 3.500% Senior Notes due 2026 under the global medium term notes program. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended. Korea Gas Corporation is a government-controlled distributor of natural gas in Korea. The notes are listed on the Singapore Stock Exchange. BNP Paribas, Hong Kong Branch, Citigroup Global Markets Limited, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc and UBS AG, Hong Kong Branch were the Joint Lead Managers for the offering. The Simpson Thacher team included Youngjin Sohn, Johneth C. Park and John Hahn (Corporate – Seoul); Vanessa Grieve (Tax); George Wang and Abram Ellis (OFAC); and David Rubinsky (Executive Compensation and Employee Benefits).
Written by Editor on 03 February 2014.
♦ Recent Deals ♦ Korea
Simpson Thacher represented GS Engineering & Construction Corp. (“GS E&C”) in connection with its offering of US$100 million 3.25% Convertible Bonds due 2019. The offering was conducted in reliance upon Regulation S under the Securities Act of 1933, as amended. GS E&C is a leading engineering and construction company in Korea, primarily engaged in the planning, design and construction of industrial plants, power generation facilities, residential and commercial buildings and civil engineering projects. The common shares of GS E&C are traded on the KRX KOSPI Market in Korea under the trading code 006360. The Convertible Bonds are listed on the Singapore Stock Exchange. The offering was led by J.P. Morgan Securities plc. The Simpson Thacher team for the transaction included Jin Hyuk Park (Corporate – Hong Kong) and John Hahn (Corporate – Seoul). Lawyers: • Jin-Hyuk Park
Written by Editor on 21 January 2014.
♦ Recent Deals ♦ Korea
Simpson Thacher recently represented the underwriters as the sole international counsel, led by Barclays, BNP Paribas, Credit Agricole, Deutsche Bank, Goldman Sachs and UBS, in connection with an offering in reliance of Regulation S of €500,000,000 2.375% Seniors Notes due 2019 by Korea Gas Corporation under its US$5 billion global medium term notes program. The notes were listed on the Frankfurt Stock Exchange. Korea Gas Corporation is a government-controlled distributor of natural gas in Korea. The Simpson Thacher team included Youngjin Sohn, Johneth C. Park and David Joo (Capital Markets). Lawyers: • Johneth Chongseo Park • Youngjin Sohn
Written by John on 29 October 2013.
♦ Recent Deals ♦ Korea, Seoul
Paul Hastings, a leading global law firm, announced today that it is representing Samsung Display Co., Ltd. (“Samsung Display”), a global leader in display panel technology and products and a subsidiary of Samsung Electronics, in its agreement with Samsung Corning Precision Materials (“SCP”) and Corning Incorporated (“Corning”) to have SCP repurchase Samsung Display’s 43% interest in SCP. Samsung Display will furthermore make a strategic purchase of US$1.9 billion in fixed rate cumulative convertible preferred shares from a Corning affiliate, plus a direct subscription of an additional US$400 million in such preferred shares, resulting in its ownership of a 7.4% stake in Corning, on an as converted basis. The agreement is designed to strengthen the strategic partnership and technology collaboration between Samsung Display and Corning. The transactions, which are subject to certain closing conditions, are expected to close in the first quarter of 2014. The Paul Hastings team is being led by Seoul-based M&A partner Daniel Sae-Chin Kim and of counsel Woojae Kim, with support from corporate partners Barry Brooks, Jeff Hartlin and Matthew Berger, and associates Young Hwan Ryu, Steve Kang, Jared Lee, Robert Clarke, Samantha Eldredge, Hyunah Kang, Yariv Katz and Julie O’Neill.
Written by John on 28 October 2013.
♦ Recent Deals ♦ Korea, Seoul
The Firm represented Hyundai Rotem Company (“Hyundai Rotem”) in connection with its initial public offering in Korea of 27,060,000 common shares with an offering size of approximately US$585 million. This offering was the largest IPO by a Korean company since 2010. The common shares will be listed on the KRX KOSPI Market of the Korea Exchange under the code 064350. Hyundai Rotem issued and sold 21,060,000 common shares and MSPE Metro-Investment, an affiliate of Morgan Stanley Private Equity Asia, sold 6,000,000 shares as selling shareholder. The shares of Hyundai Rotem have been offered to retail and institutional investors in Korea as a registered IPO in Korea and in reliance on exemptions under the U.S. Securities Act, including Rule 144A and Regulation S. Hyundai Rotem, a member company of the Hyundai Motor Group, is a leading heavy industries company in Korea manufacturing rolling stock, defense products and plant equipment. Hyundai Rotem has dominant market positions in the railway systems segment in Korea and is the Korean government’s sole defense contractor for main battle tanks. The international offering was led by BofA Merrill Lynch, Deutsche Bank, KDB Daewoo Securities and Woori Investment & Securities, and the domestic offering was led by Daewoo Securities and Woori Investment & Securities. The Simpson Thacher team for the transaction included Youngjin Sohn, Iksoo Kim and John Hahn (Corporate – Seoul), Jonathan Cantor and Michael Cardella (Tax) and Aimee Adler (ECEB).