Kexim prices $2.25b dual-tranche jumbo

The state-owned export credit agency rides on investors’ thirst for safe-haven assets, shedding at least 15bp from initial price guidance for its new bond.

Kexim prices $2.25b dual-tranche jumbo

The Export-Import Bank of Korea Kexim sold a $2.25 billion dual-tranche bond on Tuesday morning, pricing it at the lower end of its final guidance as investors clamour for safe-haven assets amid market volatility.

The Korean borrower’s SEC-registered $1 billion five- and $1.25 billion 10-year tranches priced at Treasuries plus 90bp and 102.5bp, which is around 15bp and 17.5bp tighter than their initial price guidance area respectively, according...

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