By Christine Van Dusen
Atlanta, May 19 – The Export-Import Bank of Korea (Kexim) priced a combined $2.5 billion of notes in three tranches due in 2019 and 2026 in a Securities and Exchange Commission-registered deal, according to a company filing.
The deal included $1 billion 1¾% three-year fixed-rate notes that priced at 99.866.
The $500 million three-year floating-rate notes priced at par to yield Libor plus 70 basis points.
And the $1 billion 2 5/8% 10-year fixed-rate notes priced at 99.79.
BNP Paribas, BofA Merrill Lynch, Citigroup, Goldman Sachs, HSBC and Nomura were the bookrunners. Mirae Asset Daewoo was joint lead manager.
The proceeds will be used for general operations, including extending foreign currency loans and repaying debt.
Kexim is based in Seoul, South Korea.
| Issuer: | The Export-Import Bank of Korea (Kexim)
|
| Amount: | $2.5 billion
|
| Bookrunners: | BNP Paribas, BofA Merrill Lynch, Citigroup, Goldman Sachs, HSBC, Nomura
|
| Joint lead manager: | Mirae Asset Daewoo
|
| Co-manager: | Kexim Asia
|
| Trade date: | May 18
|
| Settlement date: | May 26
|
| Distribution: | SEC registered
|
|
|
| Fixed-rate notes due 2019
|
| Amount: | $1 billion
|
| Maturity: | May 26, 2019
|
| Description: | Fixed-rate notes
|
| Coupon: | 1¾%
|
| Price: | 99.866
|
|
|
| Floating-rate notes due 2019
|
| Amount: | $500 million
|
| Maturity: | May 26, 2019
|
| Description: | Floating-rate notes
|
| Coupon: | Libor plus 70 bps
|
| Price: | Par
|
| Yield: | Libor plus 70 bps
|
|
|
| 2026 notes
|
| Amount: | $1 billion
|
| Maturity: | May 26, 2026
|
| Description: | Fixed-rate notes
|
| Coupon: | 2 5/8%
|
| Price: | 99.79
|
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