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Press Release

Korea Eximbank Issues USD 1 Billion Global Bond

Date 2018.11.20 View 18453

The Export-Import Bank of Korea (, Chairman EUN, Sung-soo; “Korea Eximbank" or “the Bank”) announced that the Bank successfully issued a USD 1 billion Global Bond to investors worldwide on November 20.



As the second Global Bond offered by Korea Eximbank this year, the issue is in a dual tranche* structure, consisting of USD 0.5 billion 3-year fixed-rate bonds and USD 0.5 billion 5-year fixed-rate bonds.


* Dual Tranche: issuing bonds in two different maturities or in two different types of interest rate (floating/fixed)


Pricing has been set at US Treasury yields plus 0.675% and US Treasury yields plus 0.875% for 3-year and 5-year bonds, respectively.


The bond attracted USD 3.7 billion from about 90 investors worldwide. By region, 25% of the 3-year fixed-rate bonds were allocated to Asia, followed by 15% to the US, while 5-year fixed-rate bonds were allocated 30% to Asia, 15% to the US, and 55% to Europe, etc.


In particular, the participation of blue-chip investors such as sovereign wealth funds, central banks, pension funds and international financial institutions accounted for 70% of the 3-year tranche and 50% of the 5-year tranche, respectively. The proportion of blue-chip investment reached highest among Korean papers issued in recent years.


A Korea Eximbank official remarked, “Amid increasing volatility in global financial markets such as capital outflows from emerging markets, prolonged trade disputes, and instability of oil prices, the Bank attracted a good deal of global investors, which confirmed that Korea Eximbank’s bond is regarded as a safe haven in the international debt markets.”


The official added, “The Bank was able to timely spot improved market stability while holding IR seminars and actively interacting with the market participants.”


The official also added, “Although the base rate of US Treasury bond yields has been gradually increased, we could manage to lower the interest rate spreads driven by high demand of blue-chip investors.”


As the nation’s biggest issuer of international bonds, Korea Eximbank is funding around USD 10 billion every year, in an attempt to diversify its funding resources in the international debt markets.