By Reshmi Basu
New York, Aug. 5 - Export-Import Bank of Korea priced upsized $500 million five-year notes (A3/A-/A-) at 99.263 to yield 4.667% or a spread of Treasuries plus 106 basis points, according to market sources.
The deal, increased to $500 million from $300 million, came in line with price guidance.
Price guidance was tightened to Treasuries plus 106 basis points from initial price guidance of Treasuries plus 110 basis points.
The senior unsecured notes are structured as a five-year bullet.
UBS, Barclays Capital and Citigroup ran the books. The securities are being offered in the United States under Kexim's shelf registration.
| Issuer: | Export-Import Bank of Korea
|
| Amount: | $500 million (upsized from $300 million)
|
| Issue: | Senior unsecured notes
|
| Maturity: | Aug. 12, 2009
|
| Coupon: | 4½%
|
| Issue price: | 99.263
|
| Yield: | 4.667%
|
| Spread: | Treasuries plus 106 basis points
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 12
|
| Bookrunners: | UBS, Barclays Capital, Citigroup
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A
|
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