Published on 9/16/2020 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: Kexim prices $900 million, €500 million notes in three tranches
By Marisa Wong
Los Angeles, Sept. 16 – The Export-Import Bank of Korea priced dollar- and euro-denominated notes in three Securities and Exchange Commission-registered tranches on Monday, according to FWPs filed with the SEC on Wednesday.
Kexim priced a $400 million tranche of five-year fixed-rate notes at 99.961 with a ¾% coupon.
The bank also priced $500 million tranche of 10-year fixed-rate notes at 99.383 with a 1¼% coupon.
In addition, Kexim priced €500 million of three-year notes at 100.355. The zero-coupon bonds are being issued as social bonds. The tranche was previously reported in the Prospect News Emerging Markets Daily.
BofA Securities, Inc., Hongkong and Shanghai Banking Corp. Ltd., ING Bank NV, Singapore Branch, J.P. Morgan Securities LLC and Mizuho Securities USA LLC are joint bookrunners for the dollar-denominated notes.
HSBC, ING Bank, JPMorgan, Merrill Lynch International and Mizuho International plc are joint bookrunners for the euro-denominated tranche.
The lender is based in Seoul.
| Issuer: | Export-Import Bank of Korea
|
| Description: | Notes
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 21
|
| Distribution: | SEC registered
|
|
|
| 2023 notes
|
| Issue: | Social bonds
|
| Amount: | €500 million
|
| Maturity: | Sept. 21, 2023
|
| Bookrunners: | Hongkong and Shanghai Banking Corp. Ltd., ING Bank NV, Singapore Branch, J.P. Morgan Securities LLC, Merrill Lynch International and Mizuho International plc
|
| Coupon: | 0%
|
| Price: | 100.355
|
|
|
| 2025 notes
|
| Amount: | $400 million
|
| Maturity: | Sept. 21, 2025
|
| Bookrunners: | BofA Securities, Inc., Hongkong and Shanghai Banking Corp. Ltd., ING Bank NV, Singapore Branch, J.P. Morgan Securities LLC and Mizuho Securities USA LLC
|
| Coupon: | ¾%
|
| Price: | 99.961
|
|
|
| 2030 notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 21, 2030
|
| Bookrunners: | BofA Securities, Inc., Hongkong and Shanghai Banking Corp. Ltd., ING Bank NV, Singapore Branch, J.P. Morgan Securities LLC and Mizuho Securities USA LLC
|
| Coupon: | 1¼%
|
| Price: | 99.383
|
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