The Export-Import Bank of Korea in $2.25 Billion Dual Tranche Notes Offering

Cleary Gottlieb represented The Export-Import Bank of Korea in its SEC-registered dual tranche offering of US$1.25 billion 4% notes due 2017 and US$1 billion 5% notes due 2022. The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The closing took place on January 11, 2012.

The notes were listed on the Singapore Exchange. BofA Merrill Lynch, BNP PARIBAS, Citigroup, Deutsche Bank, HSBC and The Royal Bank of Scotland were the joint bookrunners and 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.