New Issue: Korea’s Kexim prices $1.5 billion notes in three tranches

By Christine Van Dusen

Atlanta, Jan. 19 – The Export-Import Bank of Korea priced a combined $1.5 billion of notes in three tranches on Wednesday, according to a company filing.

The deal included $500 million five-year floating-rate notes that priced at par to yield Libor plus 87.5 basis points.

Also, $500 million 2 1/8% notes due 2020 priced at 99.905 and $500 million 2¾% notes due 2022 priced at 99.736.

Daiwa Capital Markets, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan and Standard Chartered Bank were the joint bookrunners and joint lead managers for the Securities and Exchange Commission-registered deal. Hanwha Investment & Securities was the joint lead manager.

The proceeds will be used for general operations.

Issuer:	The Export-Import Bank of Korea
Amount:	$1.5 billion
Description:	Notes
Bookrunners:	Daiwa Capital Markets, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Standard Chartered Bank (joint bookrunners, joint lead managers); Hanwha Investment & Securities (joint lead manager); Kexim Asia (co-manager)
Trade date:	Jan. 18
Settlement date:	Jan. 25
Distribution:	SEC registered
Notes due 2020
Amount:	$500 million
Maturity:	Jan. 25, 2020
Coupon:	2 1/8%
Price:	99.905
Floaters due 2022
Amount:	$500 million
Maturity:	Jan. 25, 2022
Coupon:	Libor plus 87.5 bps
Price:	Par
Yield:	Libor plus 87.5 bps
Notes due 2022
Amount:	$500 million
Maturity:	Jan. 25, 2022
Coupon:	2¾%
Price:	99.736

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