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 floating rate notes due 2016 and $500 million 2.875% notes due 2018. The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on September 12, 2013 and closed on September 17, 2013.

The notes were listed on the Singapore Exchange. BofA Merrill Lynch, Citigroup, Deutsche Bank, Goldman Sachs International, HSBC 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.