Woori Bank in $500 Million Takedown

Cleary Gottlieb served as transaction counsel in an offering of $500 million floating rate senior notes due 2011 by Woori Bank. The offering, conducted in accordance with Reg. S and Rule 144A, was a takedown from Woori Bank’s $7 Billion Global Medium Term Note Programme, which was established in 1999 and updated on August 25, 2006 and is listed on the Singapore Stock Exchange. ABN AMRO, J.P. Morgan, Merrill Lynch and Woori Investment & Securities served as joint lead managers for the offering.

Woori Bank is the flagship bank of Woori Finance Holdings, one of the largest financial holding companies in Korea and whose shares are listed on NYSE. It is the third-largest commercial bank in Korea based on total loans and assets and provides a wide range of products and services to a broad spectrum of customers.