New Issue: Korea's Kexim prices €750 million 5¾% five-year notes at mid-swaps plus 138 bps

By Paul A. Harris

St. Louis, May 15 - The Export-Import Bank of Korea (Kexim) priced a €750 million issue of 5¾% five-year notes (Aa3/A/A+) to yield a 138 basis points spread to mid-swaps on Thursday, according to a market source.

The spread came 2 basis points below the mid-point of the 140 basis points area price talk.

The off-the-shelf notes came at an original issue discount of 99.531.

Citigroup, Deutsche Bank Securities, Depfa, HSBC and RBS Greenwich Capital led the deal.

Issuer:	Export-Import Bank of Korea
Amount:	€750 million
Maturity:	May 22, 2013
Security description:	Notes
Bookrunners:	Citigroup, Deutsche Bank Securities, Depfa, HSBC, RBS Greenwich Capital
Coupon:	5¾%
Price:	99.531
Spread to mid-swaps:	138 bps
Settlement date:	May 22
Ratings:	Moody's: Aa3
	Standard & Poor's: A
	Fitch: A+
Distribution:	SEC registered
Price talk:	140 bps area

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