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Korea Eximbank raises US$1.5B in global bond offering


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Korea Eximbank raises US$1.5B in global bond offering

Export-Import Bank of Korea raised US$1.5 billion via an offering of global bonds Jan. 19.

The bank issued the bonds in three, US$500 million tranches. The three-year fixed-rate bonds were priced at three-year U.S. Treasury yields plus 0.70%; the five-year fixed-rate notes were priced at five-year U.S. Treasury yields plus 0.925%, while the five-year floating-rate notes were priced at three-month U.S. LIBOR plus 0.875%.

The bank said it received a total of about US$2.8 billion of orders for the offering from 237 investors, including central banks.

The bank will use the proceeds to support the globalization of South Korea's key industries such as overseas construction and industrial plants and new growth industries.