The Export-Import Bank of Korea in $500 Million “Green Bond” Offering

February 27, 2013

Cleary Gottlieb represented The Export-Import Bank of Korea in its SEC-registered offering of US $500 million 1.750% notes due 2018. The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B and represented the first “Green Bond” issuance by a Korean issuer. KEXIM will use the net proceeds from the sale of the notes to support projects that promote the transition to low-carbon and climate resilient growth. The offering priced February 20, 2013 and closed on February 27, 2013.

The notes were listed on the Singapore Exchange. BofA Merrill Lynch and SEB Enskilda 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.