Korea's Kexim talks $500 million five-year floater at mid-to-high 20s bps spread to Libor

By Paul A. Harris

St. Louis, Nov. 7 - The Export-Import Bank of Korea is talking its proposed $500 million offering of five-year floating-rate notes at a mid-20s to high-20s basis point spread to Libor, according to a syndicate source.

Pricing is expected on Tuesday.

Credit Suisse First Boston, HSBC and UBS are the underwriters.

Proceeds will be used for general corporate purposes.

Moody's Investors Service assigns its A3 rating to the notes. The Standard & Poor's rating is A. Fitch Ratings rates the issue A-.

Seoul-based Kexim is Korea's official export credit agency providing export credit and project finance to support Korean enterprises in conducting business internationally.

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