By Rebecca Melvin
New York, May 24 – The Export-Import Bank of Korea (Kexim) priced $1.5 billion of floating-rate notes due 2021 and 2023 on Wednesday, according to a company filing.
The $800 million of three-year notes priced at par to yield Libor plus 57.5 basis points.
The $700 million of five-year notes priced at par to yield Libor plus 77.5 bps.
Citigroup, ING, JPMorgan, Korea Development Bank, Morgan Stanley and Societe General CIB were the joint bookrunners and lead managers for the Securities and Exchange Commission-registered deal.
The proceeds will be used for general operations.
The lender is based in Seoul.
| Issuer: | Export-Import Bank of Korea (Kexim)
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup, ING, JPMorgan, Korea Development Bank, Morgan Stanley and Societe General CIB
|
| Co-manager: | Kexim Bank (UK) Ltd.
|
| Trade date: | May 23
|
| Distribution: | SEC-registered
|
|
|
| 2021 notes
|
| Amount: | $800 million
|
| Maturity: | June 1, 2021
|
| Coupon: | Libor plus 57.5 bps
|
| Price: | Par
|
| Yield: | Libor plus 57.5 bps
|
|
|
| 2023 notes
|
| Amount: | $700 million
|
| Maturity: | June 1, 2023
|
| Coupon: | Libor plus 77.5 bps
|
| Price: | Par
|
| Yield: | Libor plus 77.5 bps
|
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