KEXIM in $300 Million Guaranteed Offering

September 14, 2017

Cleary Gottlieb represented The Export-Import Bank of Korea (KEXIM) in an offering by Lotte Shopping Business Management (Hong Kong) Limited of $300 million 2.375 percent notes due 2020, unconditionally and irrevocably guaranteed by KEXIM.

The notes were listed on the Singapore Exchange. The offering priced on August 30, 2017 and closed on September 5, 2017. BNP Paribas, HSBC and Standard Chartered Bank were the joint lead managers and KEXIM Asia Limited was a co-manager.

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.