By Mary Katherine Stinson
Lexington, Ky., Jan. 5 – Export-Import Bank of Korea priced a three-tranche offering of fixed-rate notes totaling $2 billion on Thursday, according to FWPs filed with the Securities and Exchange Commission.
The bank priced $800 million of 4˝% notes due Jan. 11, 2029 at 99.501.
A second tranche of $400 million of 4 5/8% notes due Jan. 11, 2034 sold at 99.147.
Finally, the $800 million of 4 5/8% sustainability notes due Jan. 11, 2027 priced at 99.831.
None of the notes are callable.
Australia and New Zealand Banking Group Ltd., BNP Paribas, HSBC Ltd., J.P. Morgan Securities plc, MUFG Securities Asia Ltd. and Standard Chartered Bank are the bookrunners. Korea Investment & Securities Co., Ltd. is a joint lead manager.
Proceeds will be used for general operations. The sustainability notes will be allocated for eligible green projects or assets defined as renewable energy, energy efficiency, clean transportation, pollution prevention and control, sustainable marine transportation and sustainable water and wastewater management.
The notes will be listed in Singapore.
The lender is based in Seoul.
| Issuer: | Export-Import Bank of Korea
|
| Amount: | $2 billion
|
| Issue: | Notes
|
| Bookrunners: | Australia and New Zealand Banking Group Ltd., BNP Paribas, HSBC Ltd., J.P. Morgan Securities plc, MUFG Securities Asia Ltd. and Standard Chartered Bank
|
| Joint lead manager: | Korea Investment & Securities Co., Ltd.
|
| Fiscal agent: | Bank of New York Mellon
|
| Counsel to issuer: | Yoon & Yang LLC (Hwawoo) and Cleary Gottlieb Steen & Hamilton LLP
|
| Counsel to underwriters: | Linklaters LLP
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 11
|
| Distribution: | SEC registered
|
|
|
| 2027 sustainability notes
|
| Amount: | $800 million
|
| Maturity: | Jan. 11, 2027
|
| Coupon: | 4 5/8%
|
| Price: | 99.831
|
| Call: | Non-callable
|
| Cusip: | 302154EA3
|
|
|
| 2029 notes
|
| Amount: | $800 million
|
| Maturity: | Jan. 11, 2029
|
| Coupon: | 4˝%
|
| Price: | 99.501
|
| Call: | Non-callable
|
| Cusip: | 302154EB1
|
|
|
| 2034 notes
|
| Amount: | $400 million
|
| Maturity: | Jan. 11, 2034
|
| Coupon: | 4 5/8%
|
| Price: | 99.147
|
| Call: | Non-callable
|
| Cusip: | 302154EC9
|
|
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