Cleary Gottlieb represented UBS AG as the lead manager in a Reg S offering of CHF 150 million zero coupon notes due 2025 by The Export-Import Bank of Korea (KEXIM) under its $25 billion global medium-term note program.
The offering priced on October 28, 2019, and closed on November 27, 2019. The notes were listed on the SIX Swiss Exchange.
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.