By Aaron Hochman-Zimmerman
New York, March 6 - The Export-Import Bank of Korea priced two ringgit-dominated bonds worth a total of $300 million, according to a press release.
The five-year 500 million ringgit bond was priced at Libor plus 98 basis points, after taking into account the currency swap.
The 10-year 500 million ringgit bond was priced at Libor plus 119 bps, again after taking into account the currency swap.
The yields are 30 bps to 40 bps lower than directly issuing dollar-denominated debt, the bank said.
Kexim is a Seoul-based state-owned bank. Proceeds will be used to support Korean overseas investments and natural resources development projects.
| Issuer: | Export-Import Bank of Korea
|
| Amount: | 1 billion ringgit
|
| Pricing date: | March 3
|
|
|
| Issue: | Five-year notes
|
| Amount: | 500 million ringgit
|
| Maturity: | 2013
|
| Swapped rate: | Libor plus 98 bps
|
|
|
| Issue: | 10-year notes
|
| Amount: | 500 million ringgit
|
| Maturity: | 2018
|
| Swapped rate: | Libor plus 119 bps
|
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