The Export-Import Bank of Korea in $1 Billion Dual Tranche Notes Offering

Cleary Gottlieb represented The Export-Import Bank of Korea in its SEC-registered offering of $500 million 2.375% notes due 2019 and $500 million 3.250% notes due 2026. The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on August 5, 2014 and closed on August 12, 2014.

The notes were listed on the Singapore Exchange. ANZ Securities, BNP Paribas, BofA Merrill Lynch, Citigroup, HSBC, Standard Chartered Bank and KDB Daewoo Securities were the joint lead managers 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.