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Export-Import Bank of Korea raises 7B Mexican pesos in debt issue

Export-Import Bank of Korea on Aug. 2 said it issued 7 billion Mexican pesos of seven-year bonds with a coupon of 7.93% based on a U.S. dollar Libor swap rate.

It was the first bond offering by an overseas export credit agency in Mexico, according to the development bank.

The proceeds will be converted to U.S. dollars under a swap contract to finance various export projects, the lender said.

As of Aug. 1, US$1 was equivalent to 19.16 Mexican pesos.