Kexim goes green again with $400m bond

Asia's debut green borrower becomes the first to tap the market in 2016 and the only corporate credit globally to brave the dollar-denominated debt markets on Tuesday.
Pakistan's Patrind hydro project was part financed by Kexim's green funds
Pakistan's Patrind hydro project was part financed by Kexim's green funds

The Export Import Bank of Korea Kexim returned to the green bond market for a second outing on Tuesday, raising $400 million from a five-year SEC-registered deal.

The Aa2AA-AA- rated transaction once again underlines Kexim’s standing as one of the region’s pioneering borrowers, as well as one of its most active.

Kexim was the first Asian issuer to open the market for climate-friendly bonds in February 2013 when it raised $500 million from a similar five-year deal. However, issuance has been fairly sporadic since then despite investment bankers' great hopes to the contrary. 

No other Korean...

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