SEOUL – Jan. 23, 2024 – Global law firm Greenberg Traurig, LLP represented SK Battery America, Inc. in its Reg. S offering of US$500 million 4.875% Guaranteed Senior Unsecured Green Notes due 2027, which were unconditionally and irrevocably guaranteed by Kookmin Bank. BNP PARIBAS, Citigroup, Crédit Agricole CIB, HSBC, J.P. Morgan, MUFG, and Standard Chartered Bank were the joint bookrunners for the offering. The offering priced Jan. 16 and closed Jan. 23. The notes were listed on the Singapore Exchange.
SK Battery America is a wholly owned subsidiary of SK On, a leading battery manufacturer for electric vehicles and electronic storage systems with manufacturing facilities in the United States, China, and Europe. SK On is a wholly owned subsidiary of SK Innovation, an intermediate holding company of SK group – one of the largest conglomerates in Korea.
The Greenberg Traurig attorneys leading the transaction were Shareholder Eun Sang Hwang and Associate Byoungjoo Lee in the Seoul office. Shareholder Justin E. Mann in the Delaware office provided Delaware law advice, and Shareholder James M. Maynor, Jr. in the Northern Virginia office provided U.S. tax advice.