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Korea Exim News

Korea Eximbank Issues USD 1.5 Billion Global Bond

Date 2018.05.24 View 12578

The Export-Import Bank of Korea (, Chairman EUN, Sung-soo, "Korea Eximbank") announced that it successfully issued a USD 1.5 billion dual-tranche Global Bond to investors worldwide on May 24.


As the first USD global bond issued by Korea Eximbank this year, the amount of the issue was the largest among the bonds issued by Korean institutions. The issue made on the day consists of USD 0.8 billion 3-year floating-rate notes and USD 0.7 billion 5-year floating-rate bonds, priced at 3-month US Libor plus 0.575% and 3-month US Libor plus 0.775%, respectively.


The bond attracted USD 2.6 billion from 146 investors worldwide. By region, investors from Asia accounted for 49%, Europe and the Middle East for 36%, and the U.S. for 15%. By issuing the first dual-tranche Global Bond with floating rates, Korea Eximbank has set a new benchmark for Korean institutions contemplating their own offerings of floating-rate global bond as a means to alleviate the burden of borrowing cost.


A Korea Eximbank official said, “Amid the ongoing financial instability in some emerging markets such as Argentina and Turkey, Korea Eximbank successfully issued the Global Bond as favorable conditions were created by downward stabilization of Korea’s CDS premium, effectively benefitting from the historic Inter-Korean Summit on April 27.”


The proceeds obtained through this issue will be used to support Korea's key industries including overseas construction and industrial plants, and to foster new growth industries, a future growth engine for the Korean economy to respond to the needs arising in the era of fourth industrial revolution.


Meanwhile, Korea Eximbank, as the nation’s biggest issuer of international bonds, is planning to diversify its funding resources to achieve its yearly target of USD 8 billion this year.