As filed with the Securities and Exchange Commission on February 19, 2019
Registration Statement No. 333-217914
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
POST-EFFECTIVE AMENDMENT NO. 5
TO
REGISTRATION STATEMENT
UNDER
SCHEDULE B
OF
THE SECURITIES ACT OF 1933
THE KOREA DEVELOPMENT BANK
(Name of Registrant)
THE REPUBLIC OF KOREA
(Name ofCo-Registrant and Guarantor)
Names and Addresses of Authorized Representatives in the United States:
Young Eun Ban or Choon Keun Song | Seong-wook Kim | |
Duly Authorized Representatives of The Korea Development Bank 320 Park Avenue, 32nd Floor New York, NY 10022 | Duly Authorized Representative of The Republic of Korea 460 Park Avenue, 9th Floor New York, NY 10022 |
Copies to:
Jinduk Han, Esq.
Cleary Gottlieb Steen & Hamilton LLP
c/o 19F, Ferrum Tower
19,Eulji-ro5-gil,Jung-gu
Seoul 04539, The Republic of Korea
The securities registered hereby will be offered on a delayed or continuous basis pursuant to the procedures set forth in Securities Act Release Nos.33-6240 and33-6424.
This Post-Effective Amendment No. 5 is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act of 1933, as amended.
EXPLANATORY NOTE
This Post-Effective Amendment No. 5 to the registrant’s Registration Statement under Schedule B (File No. 333-217914), declared effective by the Securities and Exchange Commission on June 14, 2018, is being filed solely for the purpose of filing Exhibits M-9 and M-10 to such Registration Statement pursuant to Rule 462(d) under the Securities Act. This Post-Effective Amendment No. 5 is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act of 1933, as amended. No changes or additions are being made hereby to the Prospectus which forms part of such Registration Statement.
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
Item 11.Estimated Expenses.*
It is estimated that our expenses in connection with the sale of the debt securities, warrants and guarantees hereunder, exclusive of compensation payable to underwriters and agents, will be as follows:
SEC Registration Fee | US$ | 695,400 | ||
Printing Costs | 250,000 | |||
Legal Fees and Expenses | 450,000 | |||
Fiscal Agent Fees and Expenses | 50,000 | |||
Blue Sky Fees and Expenses | 50,000 | |||
Rating Agencies’ Fees | 350,000 | |||
Miscellaneous (including amounts to be paid to underwriters in lieu of reimbursement of certain expenses) | 600,000 | |||
|
| |||
Total | US$ | 2,445,400 | ||
|
|
| * | Based on three underwritten offerings of the debt securities. |
II-1
UNDERTAKINGS
The Registrants hereby undertake:
| (a) | To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: |
| (i) | To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; |
| (ii) | To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereto) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; and |
| (iii) | To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement; |
| (b) | That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and |
| (c) | To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. |
| (d) | That, for purposes of determining liability under the Securities Act of 1933 to any purchaser: |
each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.
| (e) | That, for the purpose of determining any liability under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: |
The undersigned registrants undertake that in a primary offering of securities of the undersigned registrants pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrants will be sellers to the purchaser and will be considered to offer or sell such securities to such purchaser;
| (i) | Any preliminary prospectus or prospectus of the undersigned registrants relating to the offering required to be filed pursuant to Rule 424; |
| (ii) | Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrants or used or referred to by the undersigned registrants; |
| (iii) | The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrants or their securities provided by or on behalf of the undersigned registrants; and |
| (iv) | Any other communication that is an offer in the offering made by the undersigned registrants to the purchaser. |
II-2
CONTENTS
This Registration Statement is comprised of:
| (1) | Facing Sheet. |
| (2) | Explanatory Note. |
| (3) | Part I, consisting of the Prospectus. |
| (4) | Part II, consisting of pagesII-1 toII-9 |
| (5) | The following Exhibits: |
| A-1 | - | Form of Underwriting Agreement Standard Terms, incorporated herein by reference to Exhibit A to the Registration Statement of The Korea Development Bank (No.33-38873). | ||
| B-1 | - | Form of Fiscal Agency Agreement, including forms of Debt Securities, incorporated herein by reference to ExhibitB-1 to the Registration Statement of The Korea Development Bank(No. 33-44818). | ||
| B-2 | - | Form of global Debt Security that bears interest at a fixed rate, incorporated herein by reference to ExhibitB-2 to the Registration Statement of The Korea Development Bank(No. 33-156305). | ||
| B-3 | - | Form of Amendment No. 1 to Fiscal Agency Agreement, incorporated herein by reference toExhibit B-3 to the Registration Statement of The Korea Development Bank (No.333-111608). | ||
| C-1 | - | Form of Warrant Agreement, including form of Warrants.* | ||
| C-2 | - | Form of Guarantee Agreement, including form of Guarantees, incorporated herein by reference to ExhibitC-2 to the Registration Statement of The Korea Development Bank (No.333-97299). | ||
| C-3 | - | Form of Solicitation Indemnification Agreement, incorporated herein by reference to ExhibitC-3 to the Registration Statement of The Korea Development Bank (No.333-97299). | ||
| D-1 | - | Consent of the Chief Executive Officer & Chairman of The Korea Development Bank (included on pageII-5). | ||
| D-2 | - | Power of Attorney of the Chief Executive Officer & Chairman of The Korea Development Bank.** | ||
| E-1 | - | Consent of the Minister of Economy and Finance of The Republic of Korea (included on PageII-6). | ||
| E-2 | - | Power of Attorney of the Minister of Economy and Finance of The Republic of Korea, incorporated herein by reference to ExhibitE-2 to the Registration Statement of The Korea Development Bank(No. 333-156305). | ||
| F | - | Consent of Nexia Samduck.** | ||
| G-1 | - | Letter appointing certain persons as authorized agents of The Korea Development Bank in the United States.** | ||
| G-2 | - | Letter appointing authorized agents of The Republic of Korea in the United States (included in ExhibitE-2). | ||
| H | - | The Korea Development Bank Act, incorporated herein by reference to Exhibit H to the Registration Statement of The Korea Development Bank(No. 333-197061). | ||
| I | - | The Enforcement Decree of The Korea Development Bank Act.** | ||
| J | - | The Articles of Incorporation of The Korea Development Bank.** | ||
| K-1 | - | Form of Prospectus Supplement relating to The Korea Development Bank’s Medium-Term Notes, Series C, Due Not Less Than Nine Months From Date of Issue (the “Series C Notes”), incorporated herein by reference to ExhibitK-1 to the Registration Statement of The Korea Development Bank (No.333-6866). | ||
| K-2 | - | Form of Supplement to the Prospectus Supplement relating to the Korea Development Bank’s Series C Notes, incorporated herein by reference to ExhibitK-2 to the Registration Statement of The Korea Development Bank (No.333-6866). | ||
| L | - | Form of Distribution Agreement between The Korea Development Bank and the Agents named therein relating to the offer or sale from time to time of the Series C Notes, incorporated herein by reference to Exhibit L to the Registration Statement of The Korea Development Bank(No. 333-6866). | ||
II-3
| M-1 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower,19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of the Debt Securities (with or without Warrants).** | ||
| M-2 | - | Opinion (including consent) of Kim & Chang, 39,Sajik-ro8-gil,Jongno-gu, Seoul, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of the Debt Securities (with or without Warrants) and the Guarantees to be issued by The Republic of Korea.** | ||
| M-3 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower, 19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$300,000,000 Floating Rate Notes due 2022.** | ||
| M-4 | - | Opinion (including consent) of Bae, Kim & Lee LLC, 133,Teheran-ro,Gangnam-gu, Seoul 06133, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$300,000,000 Floating Rate Notes due 2022.** | ||
| M-5 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower, 19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 Floating Rate Notes due 2020, US$150,000,000 Floating Rate Notes due 2022 and US$350,000,000 2.750% Notes due 2023.** | ||
| M-6 | - | Opinion (including consent) of Lee & Ko, Hanjin Building, 63,Namdaemun-ro,Jung-gu, Seoul 04532, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 Floating Rate Notes due 2020, US$150,000,000 Floating Rate Notes due 2022 and US$350,000,000 2.750% Notes due 2023.** | ||
| M-7 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower, 19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 Floating Rate Notes due 2021 and US$500,000,000 3.375% Notes due 2023.** | ||
| M-8 | - | Opinion (including consent) of Lee & Ko, Hanjin Building, 63,Namdaemun-ro,Jung-gu, Seoul 04532, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 Floating Rate Notes due 2021 and US$500,000,000 3.375% Notes due 2023.** | ||
| M-9 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower, 19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 3.00% Notes due 2022 and US$500,000,000 3.25% Notes due 2024. | ||
| M-10 | - | Opinion (including consent) of Lee & Ko, Hanjin Building, 63,Namdaemun-ro,Jung-gu, Seoul 04532, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 3.00% Notes due 2022 and US$500,000,000 3.25% Notes due 2024. | ||
| N-1 | - | Form of the Series C Note that bears interest at a fixed rate, incorporated herein by reference to ExhibitN-1 to the Registration Statement of The Korea Development Bank (No.333-6866). | ||
| N-2 | - | Form of the Series C Note that bears interest at a floating rate, incorporated herein by reference to ExhibitN-2 to the Registration Statement of The Korea Development Bank (No.333-6866). | ||
| O | - | Form of Calculation Agency Agreement between The Korea Development Bank and the calculation agent named therein relating to the Series C Notes that bear interest at a floating rate, incorporated herein by reference to Exhibit O to the Registration Statement of The Korea Development Bank(No. 333-6866). | ||
| * | May be filed by amendment. |
| ** | Previously filed. |
II-4
SIGNATURE OF THE KOREA DEVELOPMENT BANK
Pursuant to the requirements of the Securities Act of 1933, as amended, The Korea Development Bank has duly caused this Registration Statement or amendment thereto to be signed on its behalf by the undersigned, thereunto duly authorized, in Seoul, The Republic of Korea, on the 19th day of February 2019.
| THE KOREA DEVELOPMENT BANK | ||
| By: | DONG GULL LEE*† | |
| Chief Executive Officer & Chairman | ||
| †By: | /S/ JAE HEUN CHOI | |
| Jae Heun Choi | ||
| (Attorney-in-fact) | ||
| * | Consent is hereby given to use of his name in connection with the information specified in this Registration Statement or amendment thereto to have been supplied by him and stated on his authority. |
II-5
SIGNATURE OF THE REPUBLIC OF KOREA
Pursuant to the requirements of the Securities Act of 1933, as amended, The Republic of Korea has duly caused this Registration Statement or amendment thereto to be signed on its behalf by the undersigned, thereunto duly authorized, in The City of New York, New York, on the 19th day of February 2019.
THE REPUBLIC OF KOREA | ||
| By: | Nam-ki Hong*† | |
| Minister of Economy and Finance | ||
| †By: | /S/ SEONG-WOOK KIM | |
| Seong-wook Kim | ||
| (Attorney-in-fact) | ||
| * | Consent is hereby given to use of his name in connection with the information specified in this Registration Statement or amendment thereto to have been supplied by him and stated on his authority. |
II-6
SIGNATURE OF AUTHORIZED REPRESENTATIVE
OF THE KOREA DEVELOPMENT BANK
Pursuant to the Securities Act of 1933, as amended, the undersigned, a duly authorized representative in the United States of The Korea Development Bank, has signed this Registration Statement or amendment thereto in The City of New York, New York, on the 19th day of February 2019.
| †By: | /S/ YOUNG EUN BAN | |
| Young Eun Ban | ||
| New York Branch | ||
| The Korea Development Bank | ||
II-7
SIGNATURE OF AUTHORIZED REPRESENTATIVE
OF THE KOREA DEVELOPMENT BANK
Pursuant to the Securities Act of 1933, as amended, the undersigned, a duly authorized representative in the United States of The Korea Development Bank, has signed this Registration Statement or amendment thereto in The City of New York, New York, on the 19th day of February 2019.
| †By: | /S/ CHOON KEUN SONG | |
| Choon Keun Song | ||
| New York Branch | ||
| The Korea Development Bank | ||
II-8
SIGNATURE OF AUTHORIZED REPRESENTATIVE
OF THE REPUBLIC OF KOREA
Pursuant to the Securities Act of 1933, as amended, the undersigned, a duly authorized representative in the United States of The Republic of Korea, has signed this Registration Statement or amendment thereto in The City of New York, New York, on the 19th day of February 2019.
| †By: | /S/ SEONG-WOOK KIM | |
| Seong-wook Kim | ||
| Financial Attaché | ||
| Korean Consulate General in New York | ||
II-9
EXHIBIT INDEX
| A-1 | - | Form of Underwriting Agreement Standard Terms, incorporated herein by reference to Exhibit A to the Registration Statement of The Korea Development Bank (No.33-38873). | ||
| B-1 | - | Form of Fiscal Agency Agreement, including forms of Debt Securities, incorporated herein by reference to ExhibitB-1 to the Registration Statement of The Korea Development Bank(No. 33-44818). | ||
| B-2 | - | Form of global Debt Security that bears interest at a fixed rate, incorporated herein by reference to ExhibitB-2 to the Registration Statement of The Korea Development Bank(No. 33-156305). | ||
| B-3 | - | Form of Amendment No. 1 to Fiscal Agency Agreement, incorporated herein by reference toExhibit B-3 to the Registration Statement of The Korea Development Bank (No.333-111608). | ||
| C-1 | - | Form of Warrant Agreement, including form of Warrants.* | ||
| C-2 | - | Form of Guarantee Agreement, including form of Guarantees, incorporated herein by reference to ExhibitC-2 to the Registration Statement of The Korea Development Bank (No.333-97299). | ||
| C-3 | - | Form of Solicitation Indemnification Agreement, incorporated herein by reference to ExhibitC-3 to the Registration Statement of The Korea Development Bank (No.333-97299). | ||
| D-1 | - | Consent of the Chief Executive Officer & Chairman of The Korea Development Bank (included on pageII-5). | ||
| D-2 | - | Power of Attorney of the Chief Executive Officer & Chairman of The Korea Development Bank.** | ||
| E-1 | - | Consent of the Minister of Economy and Finance of The Republic of Korea (included on PageII-6). | ||
| E-2 | - | Power of Attorney of the Minister of Economy and Finance of The Republic of Korea, incorporated herein by reference to ExhibitE-2 to the Registration Statement of The Korea Development Bank(No. 333-156305). | ||
| F | - | Consent of Nexia Samduck.** | ||
| G-1 | - | Letter appointing certain persons as authorized agents of The Korea Development Bank in the United States.** | ||
| G-2 | - | Letter appointing authorized agents of The Republic of Korea in the United States (included in ExhibitE-2). | ||
| H | - | The Korea Development Bank Act, incorporated herein by reference to Exhibit H to the Registration Statement of The Korea Development Bank(No. 333-197061). | ||
| I | - | The Enforcement Decree of The Korea Development Bank Act.** | ||
| J | - | The Articles of Incorporation of The Korea Development Bank.** | ||
| K-1 | - | Form of Prospectus Supplement relating to The Korea Development Bank’s Medium-Term Notes, Series C, Due Not Less Than Nine Months From Date of Issue (the “Series C Notes”), incorporated herein by reference to ExhibitK-1 to the Registration Statement of The Korea Development Bank (No.333-6866). | ||
| K-2 | - | Form of Supplement to the Prospectus Supplement relating to the Korea Development Bank’s Series C Notes, incorporated herein by reference to ExhibitK-2 to the Registration Statement of The Korea Development Bank (No.333-6866). | ||
| L | - | Form of Distribution Agreement between The Korea Development Bank and the Agents named therein relating to the offer or sale from time to time of the Series C Notes, incorporated herein by reference to Exhibit L to the Registration Statement of The Korea Development Bank(No. 333-6866). | ||
| M-1 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower,19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of the Debt Securities (with or without Warrants).** | ||
| M-2 | - | Opinion (including consent) of Kim & Chang, 39,Sajik-ro8-gil,Jongno-gu, Seoul, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of the Debt Securities (with or without Warrants) and the Guarantees to be issued by The Republic of Korea.** | ||
| M-3 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower, 19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$300,000,000 Floating Rate Notes due 2022.** | ||
| M-4 | - | Opinion (including consent) of Bae, Kim & Lee LLC, 133,Teheran-ro,Gangnam-gu, Seoul 06133, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$300,000,000 Floating Rate Notes due 2022.** | ||
| M-5 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower, 19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 Floating Rate Notes due 2020, US$150,000,000 Floating Rate Notes due 2022 and US$350,000,000 2.750% Notes due 2023.** | ||
| M-6 | - | Opinion (including consent) of Lee & Ko, Hanjin Building, 63,Namdaemun-ro,Jung-gu, Seoul 04532, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 Floating Rate Notes due 2020, US$150,000,000 Floating Rate Notes due 2022 and US$350,000,000 2.750% Notes due 2023.** | ||
| M-7 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower, 19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 Floating Rate Notes due 2021 and US$500,000,000 3.375% Notes due 2023.** | ||
| M-8 | - | Opinion (including consent) of Lee & Ko, Hanjin Building, 63,Namdaemun-ro,Jung-gu, Seoul 04532, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 Floating Rate Notes due 2021 and US$500,000,000 3.375% Notes due 2023.** | ||
| M-9 | - | Opinion (including consent) of Cleary Gottlieb Steen & Hamilton LLP, c/o 19F, Ferrum Tower, 19,Eulji-ro5-gil,Jung-gu, Seoul 04539, The Republic of Korea, United States counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 3.00% Notes due 2022 and US$500,000,000 3.25% Notes due 2024. | ||
| M-10 | - | Opinion (including consent) of Lee & Ko, Hanjin Building, 63,Namdaemun-ro,Jung-gu, Seoul 04532, The Republic of Korea, Korean counsel to The Korea Development Bank, in respect of the legality of The Korea Development Bank’s US$500,000,000 3.00% Notes due 2022 and US$500,000,000 3.25% Notes due 2024. | ||
| N-1 | - | Form of the Series C Note that bears interest at a fixed rate, incorporated herein by reference to ExhibitN-1 to the Registration Statement of The Korea Development Bank (No.333-6866). | ||
| N-2 | - | Form of the Series C Note that bears interest at a floating rate, incorporated herein by reference to ExhibitN-2 to the Registration Statement of The Korea Development Bank (No.333-6866). | ||
| O | - | Form of Calculation Agency Agreement between The Korea Development Bank and the calculation agent named therein relating to the Series C Notes that bear interest at a floating rate, incorporated herein by reference to Exhibit O to the Registration Statement of The Korea Development Bank(No. 333-6866). | ||
| * | May be filed by amendment. |
| ** | Previously filed. |
