Korea’s Kexim prepares to offer three dollar notes, one euro note

Chicago, Sept. 7 – Export-Import Bank of Korea is in the market with three dollar-denominated notes and a tranche of euro-denominated notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be non-callable.

Investor calls are scheduled for Friday, a market source said regarding timing.

The dollar offering is outlined with tranches with two-year, five-year and 10-year tenors. The euro notes are expected to have a four-year tenor.

For the dollar notes, BofA Securities, Inc., Deutsche Bank AG, London Branch, Mizuho Securities USA LLC, Nomura Singapore Ltd., Societe Generale, Standard Chartered Bank, Korea Development Bank and Kexim Asia Ltd. are listed as joint bookrunners and lead managers.

For the euro notes, Merrill Lynch International is technically listed instead of BofA Securities.

Korea Development Bank is the joint lead manager.

Kexim Asia Ltd. is the co-manager.

Bank of New York Mellon will be the fiscal agent.

Kexim is being advised by Cleary Gottlieb Steen & Hamilton LLP and Shin & Kim LLC. The underwriters are relying on Linklaters LLP for legal opinions.

Proceeds will be used to fund general operations, including extending foreign currency loans and repayment of maturing debt and other obligations.

The notes will be listed in Singapore.

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