KEXIM in $1.5 Million Offering

Cleary Gottlieb represented The Export-Import Bank of Korea (KEXIM) in its SEC-registered triple-tranche offering of $500 million 0.375% notes due 2024, $700 million 0.625% notes due 2026, and $300 million 1.375% notes due 2031.

The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on February 3, 2021, and closed on February 9, 2021.

The notes were listed on the Singapore Exchange. BNP PARIBAS, Citigroup, Crédit Agricole CIB, KB SECURITIES, Mizuho Securities, and Standard Chartered Bank were the joint bookrunners and lead managers, and KEXIM Bank (UK) Limited was the co-manager for the offering.

KEXIM was established in 1976 as a special governmental financial institution pursuant to the Export-Import Bank of Korea Act to promote the sound development of the Korean economy and economic cooperation with foreign countries by extending the financial aid required for export and import transactions, overseas investment, and the development of natural resources abroad.