By Reshmi Basu
New York, March 8 - Export-Import Bank of Korea priced $1 billion of five- and 10- year bonds (A3), according to a market source.
The dual tranches were comprised of $600 million of 10-year bonds and $400 million of five-year bonds.
The five-year bonds priced at 99.612 with a 4 5/8% coupon to yield 4.713%, or 68 basis points over Treasuries.
The 10-year bonds priced at 99.752 with a 5 1/8% coupon to yield 5.157%, or 79 basis points over Treasuries.
Barclays Capital, Citigroup and Credit Suisse First Boston managed the sale.
Proceeds from the sale will be used to pay debt and make loans.
The issuer is a Seoul, Korea-based government-controlled policy bank.
| Issuer: | Export-Import Bank of Korea
|
| Total amount: | $1 billion
|
| Pricing date: | March 8
|
| Settlement date: | March 16
|
| Managers: | Barclays Capital, Citigroup, Credit Suisse First Boston
|
| Ratings: | A3
|
|
|
| Tranche of five-year bonds
|
| Amount: | $400 million
|
| Maturity: | March 16, 2010
|
| Coupon: | 4 5/8%
|
| Issue price: | 99.612
|
| Yield: | 4.713%
|
| Spread: | 68 basis points over Treasuries
|
|
|
| Tranche of 10-year bonds
|
| Amount: | $600 million
|
| Maturity: | March 16, 2015
|
| Coupon: | 5 1/8%
|
| Issue price: | 99.752
|
| Yield: | 5.157%
|
| Spread: | 79 basis points over Treasuries
|
|
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