KEXIM in $1 Billion Offering

November 28, 2018

Cleary Gottlieb represented The Export-Import Bank of Korea (KEXIM) in its SEC-registered dual tranche offering of $500 million 3.5% notes due 2021 and $500 million 3.625% notes due 2023.

The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B.

The offering priced on November 19, 2018, and closed on November 27, 2018. The notes were listed on the Singapore Exchange. BofA Merrill Lynch, Crédit Agricole CIB, Daiwa Capital Markets Europe, HSBC, Mizuho Securities, and Standard Chartered Bank were the joint bookrunners 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.