KEXIM in $3 Billion Offering

January 18, 2022

Cleary Gottlieb represented The Export-Import Bank of Korea (KEXIM) in its SEC-registered triple-tranche offering of $1 billion 1.250% notes due 2025, $1 billion 1.625% notes due 2027, and $1 billion 2.125% green notes due 2032.

The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on January 5, 2022, and closed on January 18, 2022.

The notes were listed on the Singapore Exchange. BNP Paribas, Citigroup, Daiwa Capital Markets, HSBC, J.P. Morgan, KB Securities, and MUFG Securities were the joint bookrunners and lead managers, and KEXIM Asia Limited was the co-manager for the offering.

KEXIM was established in 1976 as a special governmental financial institution pursuant to the Export-Import Bank of Korea Act to promote the sound development of the Korean economy and economic cooperation with foreign countries by extending the financial aid required for export and import transactions, overseas investment, and the development of natural resources abroad.