Cleary Gottlieb acted as transaction counsel in the offering pursuant to Regulation S by The Export-Import Bank of Korea of its dual tranche offering of CNY 500 million 3.625% notes due 2019 (the “CNH Notes”) and CNY 500 million 4.50% notes due 2024 (the “CNT Notes”). The transaction was a takedown from KEXIM Medium Term Notes Program. The closing took place on January 24.
The CNH Notes were listed on the Singapore Exchange and the CNT Notes were listed on the Gre-Tai Securities Market in the Republic of China. HSBC was the sole bookrunner for the CNH Notes offering and HSBC Bank (Taiwan) Limited was the sole bookrunner for the CNT Notes 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.
