By Reshmi Basu
New York, Feb. 13 - The Export-Import Bank of Korea (Kexim) sold a €750 million offering of 10-year global notes (Aa3/A/A+) at 99.898 to yield mid-swaps plus 30 basis points, according to a market source.
The deal came at the tight end of price guidance, which was set in the range of 30 to 33 bps more than mid-swaps.
Citigroup, DePfa Bank plc, Deutsche Bank, Merrill Lynch & Co. and UBS Investment Bank were joint lead managers for the issuance of Securities and Exchange Commission-registered notes.
The notes are non-callable.
Kexim is a Seoul-based state-owned bank.
| Issuer: | Export-Import Bank of Korea (Kexim)
|
| Amount: | €750 million
|
| Issue: | Global notes
|
| Maturity: | Feb. 20, 2017
|
| Coupon: | 4 5/8%
|
| Issue price: | 99.898
|
| Spread: | Mid-swaps plus 30 basis points
|
| Call option: | Non-callable
|
| Lead managers: | Citigroup, DePfa Bank plc, Deutsche Bank, Merrill Lynch & Co., UBS Investment Bank
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 20
|
| Distribution: | Securities and Exchange Commission registered
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Price guidance: | 30 to 33 bps more than mid-swaps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
