KEXIM’s $1.5 Billion Offering

June 1, 2018

Cleary Gottlieb represented The Export-Import Bank of Korea (KEXIM) in its SEC-registered dual tranche offering of $800 million floating-rate notes due 2021 and $700 million floating-rate notes due 2023.

The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on May 23, 2018, and closed on June 1, 2018.

The notes were listed on the Singapore Exchange. Citigroup, ING, J.P. Morgan, Korea Development Bank, Morgan Stanley, and Société Générale 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.