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□ The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Yoon Hee-sung, “Korea Eximbank") announced on November 26 that it had selected Mizuho Bank as a lead manager and successfully raised US$ 800 million in a Bank Loan (a loan between banks).
ㅇ The bank loan amount is the largest ever raised by Korean financial institutions to date.
ㅇ The loan was procured in the form of a Syndicated Loan*, funded by 14 banks, including Mizuho Bank serving as the lead manager.
* Syndicated Loan : A loan in which more than two lenders form a consortium to jointly provide loans on the same loan conditions in the medium and long term
ㅇ It is composed of a three-year loan of US$ 300 million and a five-year loan of US$ 500 million.
□ Korea Eximbank Chairman Yoon Hee-sung met with Mizuho Financial Group Chairman Seiji Imai and Mizuho Bank Head of Global Corporate & Investment Banking Company Hidekatsu Take, to sign the bank loan agreement on November 24 at Mizuho Bank headquarters in Tokyo.
□ Following the signing of the agreement, Chairman Yoon remarked, “With Korea-Japan relations recovering since the summit held last March between the two countries, our two banks have laid a foundation for financial institutions in both countries to resume cooperation.”
ㅇ He continued, “We will continue to reinforce cooperation with Japanese financial institutions with abundant liquidity to secure quality funding resources that can be used for export finance.”
□ Meanwhile, the bank loan will be delivered to local SMEs that contribute to job creation in the form of a social loan.*
* Social Loan : A loan that is used for business fields creating social value