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

January 21, 2015

Cleary Gottlieb represented The Export-Import Bank of Korea in its SEC-registered offering of US$1 billion 2.250% notes due 2020 and US$1.25 billion 2.875% notes due 2025. The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on January 12 and closed on January 21.

The notes were listed on the Singapore Exchange. Barclays, Merrill Lynch, Citigroup, Deutsche Bank, HSBC, J.P. Morgan, The Royal Bank of Scotland and Samsung 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.