Korea’s Hanjin offers $300 million floating-rate notes due 2020

By Rebecca Melvin

New York, Sept. 29 – Hanjin International Corp., a wholly owned subsidiary of Korean Air Lines Co. Ltd., is pricing $300 million floating-rate notes due 2020, which will be guaranteed by the Export-Import Bank of Korea, according to an offering circular.

Joint bookrunners and joint lead managers are BNP Paribas, Daiwa Capital Markets Europe, and Goldman Sachs International. Co-manager is Kexim Bank (UK) Ltd.

The notes are being priced at par.

Proceeds are earmarked for repayment of $300 million floating-rate notes due 2017, which are guaranteed by Kexim.

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