By Rebecca Melvin
New York, April 21 – Export-Import Bank of Korea priced €700 million 0.829% five-year green notes (Aa2/AA-/AA-) at par to yield 105 basis points over mid-swaps, according to a market source.
BNP Paribas, Citigroup, HSBC, Societe Generale and UBS were joint bookrunners of the Regulation S notes.
The proceeds will be used to extend loans to green projects that promote the transition to low-carbon and climate resilient growth.
The Korean lender’s notes are expected to be listed on the Frankfurt Stock Exchange open market.
| Issuer: | Export-Import Bank of Korea
|
| Amount: | €700 million
|
| Maturity: | April 27, 2025
|
| Description: | Senior green bonds
|
| Bookrunners: | BNP Paribas, Citigroup, HSBC, Societe Generale and UBS
|
| Coupon: | 0.829%
|
| Price: | Par
|
| Yield: | 0.829%
|
| Spread: | Mid-swaps plus 105 bps
|
| Trade date: | April 20
|
| Settlement date: | April 27
|
| Expected ratings: | Moody's: Aa2
|
| S&P: AA-
|
| Fitch: AA-
|
| Distribution: | Regulation S
|
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