BKL Advised SK hynix on its issuance of US$500,000,000 3.000% Notes due 2024
BKL advised SK hynix on its issuance of US$500,000,000 3.000% Notes due 2024 (the “Notes”) which were listed on the Singapore Exchange on September 17, 2019.
This transaction was successful in that it attracted strong interest from investors through a bookbuilding process (i.e., it has received high interest from investors with initial orders coming in twelve times the amount being sold from approximately 197 institutions across Asia, Europe and East Asia) despite a general slump in capital markets due to international financial concerns and lots of uncertainties in the semiconductor industry.
The offering of the Notes were made to foreign investors pursuant to Regulation S and BNP Paribas, Citigroup Global Markets Limited., and Credit Suisse (Hong Kong) Limited acted as Initial Purchaser and Joint Lead Managers.
BKL, acting as sole Korean legal counsel to SK hynix, provided overall Korean legal advice throughout the issuance of the Notes, including review of the offering circular, relevant agreements and other documents. The BKL team included a partner Eui-Jong Chung, Hee-Gang Shin, Jeong-Hoon Lee as well as associates Hyun-Jung Kim and foreign attorney Heesug Chung. BKL contributed to successfully completing the transaction by addressing various legal issues in an efficient, proactive, and prompt manner.