KEXIM in $1 Billion Offering

June 25, 2019

Cleary Gottlieb represented The Export-Import Bank of Korea (KEXIM) in its SEC-registered dual tranche offering of $500 million floating-rate notes due 2022 and $500 million 2.375% notes due 2024.

The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on June 18, 2019, and closed on June 25, 2019.

The notes were listed on the Singapore Exchange. BNP Paribas, Citigroup, Crédit Agricole CIB, HSBC, Mirae Asset Daewoo, and Mizuho Securities 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.