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Supporting Korea's Economic Growth Supporting Korea's Economic Growth

Press Release

Korea Eximbank Issues USD 1 Billion Global Bond

Date 2019.06.19 View 16480

The Export-Import Bank of Korea (, Chairman EUN, Sung-soo, "Korea Eximbank") announced that it successfully issued a USD 1 billion dual-tranche Global Bond to investors worldwide on June 19.


A Korea Eximbank official said, “Last week, the Korean government successfully issued foreign exchange stabilization bond at the lowest spread ever, amid ongoing concerns and uncertainties around the global economic outlook. By effectively taking advantage of such strong confidence and demand for Korean papers by global investors, Korea Eximbank was successfully able to issue the bond.”



The bond was oversubscribed by 4.7 times, attracting USD 4.7 billion from 160 investors including central banks and sovereign wealth funds worldwide whose investment accounted for 54% of the total investment.


The issue made on the day consists of USD 0.5 billion 3-year floating-rate notes and USD 0.5 billion 5-year fixed-rate bonds. The 3-year notes were priced at 3-month US Libor plus 0.525%, which was 27.5bp lower than the initially offered rate, recording the largest reduction among the bonds issued this year by Korean institutions and 5-year bonds were priced at 0.625%, marking the lowest premium among Korean issuances since the global financial crisis.


A Korea Eximbank official explained, “Thanks to the successful issuance of foreign exchange stabilization bond by the Korean government despite prevailing uncertainties in the global economy, Korea Eximbank could raise funds at a low cost.” He added, “Korea Eximbank will make good use of the low-interest funds secured through the issue to strengthen the competitiveness of Korean companies to win overseas orders and expand its support for new growth engines.”



Meanwhile, Korea Eximbank will continue its effort to achieve its yearly target of USD 10 billion in fund raising, while diversifying its funding sources at low costs so that financial burden on its corporate clients can be relieved.