Korea's Kexim sets talk for three-, five-year dollar benchmark notes

By Christine Van Dusen

Atlanta, Sept. 12 - Export-Import Bank of Korea (Kexim) set talk for a two-tranche issue of dollar-denominated notes due in three and five years (expected ratings: Aa3/A+/AA-), a market source said.

The dollar benchmark-sized three-year floating-rate notes were talked at a spread of Libor plus 85 basis points to 90 bps.

The dollar benchmark-sized five-year notes were talked at a spread in the Treasuries plus 130 bps area.

BofA Merrill Lynch, Citigroup, Deutsche Bank, Goldman Sachs and Mizuho Securities are the joint bookrunners and lead managers for the Securities and Exchange Commission-registered deal. Samsung Securities is a lead manager.

The proceeds will be used for general operations, including extending foreign currency loans and repayment of maturing debt and other obligations, according to a filing with the SEC.

Kexim is a lender based in Seoul, South Korea.

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