By Rebecca Melvin
New York, June 19 – Export-Import Bank of Korea (Kexim) priced on Wednesday $1 billion of senior notes in two tranches, including floating-rate notes due 2022 and 2 3/8% fixed-rate notes due 2024, according to a company filing.
The $500 million of three-year floating-rate notes priced at par to yield Libor plus 52.5 basis points.
The $500 million of 2 3/8% five-year notes priced at 99.644.
BNP Paribas, Citigroup Global Markets Inc., Credit Agricole CIB, Hongkong and Shanghai Banking Corp. Ltd., Mirae Asset Daewoo Co., Ltd. and Mizuho Securities USA LLC were the joint bookrunners for the Securities and Exchange Commission-registered deal.
Kexim Bank (UK) Ltd. was co-manager.
The proceeds will be used for general operations.
The lender is based in Seoul.
| Issuer: | Export-Import Bank of Korea (Kexim)
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Bookrunners: | BNP Paribas, Citigroup Global Markets Inc., Credit Agricole CIB, Hongkong and Shanghai Banking Corp. Ltd., Mirae Asset Daewoo Co., Ltd. and Mizuho Securities USA LLC
|
| Co-manager: | Kexim Bank (UK) Ltd.
|
| Trade date: | June 19
|
| Distribution: | SEC registered
|
|
|
| 2022 floaters
|
| Amount: | $500 million
|
| Maturity: | June 25, 2022
|
| Coupon: | Libor plus 52.5 bps
|
| Price: | Par
|
| Yield: | Libor plus 52.5 bps
|
|
|
| 2024 notes
|
| Amount: | $500 million
|
| Maturity: | June 25, 2024
|
| Coupon: | 2 3/8%
|
| Price: | 99.644
|
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