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Export-Import Bank of Korea issues 1.50B yuan of bonds

Export-Import Bank of Korea issued another 1.50 billion yuan of Formosa bonds on June 7, The Financial News reported June 13.

The South Korean policy lender issued US$400 million of Formosa green bonds in March and 1.5 billion yuan of three-year Formosa bonds in February.

Formosa bonds are bonds issued in Taiwan, but denominated in a currency other than the New Taiwan dollar.

Export-Import Bank appears to be narrowing its bond currency mix in 2018, making the yuan its most favored currency because ofitsrelatively low volatility,the publicationsaid.

The bank issued CHF350 million of five-year bonds in February before it turned to Taiwan for Formosa bonds.

As of June 13, US$1 was equivalent to6.40 Chinese yuan.