Cleary Gottlieb Steen & Hamilton and Davis Polk & Wardwell have both had roles to play on an SEC-registered Schedule B offering by The Korea Development Bank.

Cleary Gottlieb represented KDB in its offering of US$850m of 3.875% notes due 2009. In addition to being registered with the SEC, the notes are listed on the Luxembourg Stock Exchange. The principal Hong Kong Cleary lawyers on the transaction were Jinduk Han, Hongki Moon and Donghoon Yi. Eric Atkerson provided tax advice.

Tokyo-based partner Eugene C. Gregor led the Davis Polk corporate team, which included Aurea Dumalaog from the firm's Hong Kong office, advising ABN AMRO, Citigroup and Deutsche Bank Securities as joint lead managers and bookrunners for the notes offering.

KDB was established in 1954 as a government-owned financial institution pursuant to the Korea Development Bank Act. Since its establishment, it has provided long-term financing for projects designed to assist Korea's economic growth and development.