Cleary Gottlieb served as transaction counsel in a dual-tranche offering of €850 million zero coupon green notes due 2024 pursuant to Reg S and $1 billion 1.75% green notes due 2028 pursuant to Rule 144A/Reg S by The Export-Import Bank of Korea (KEXIM) under its $27.5 billion global medium-term note program.
BNP Paribas, Crédit Agricole, HSBC, ING, J.P. Morgan, and Shinhan Investment served as joint bookrunners and joint lead managers for the offering, and KEXIM Bank UK Limited served as co-manager for the offering. Pricing with respect to the EUR notes took place on October 11, 2021, and pricing with respect to the USD notes took place on October 12, 2021. The offering closed on October 19, 2021. The notes were listed on the Singapore Exchange. The EUR notes were also listed on the Frankfurt Stock Exchange Open Market.
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.