The Export-Import Bank of Korea in $300 Million Senior Capital Securities Offering

Cleary Gottlieb represented The Export-Import Bank of Korea in a Reg. S offering by Korean Air Lines of $300 million senior capital securities guaranteed by KEXIM. The securities were listed on the Singapore Exchange. The offering priced on November 19 and closed on November 25. BNP PARIBAS was the sole bookrunner.

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.