kexim-launches-benchmark-dollar-bond

Kexim launches benchmark dollar bond

Following ICICI's $2 billion deal, Kexim might steal the limelight.
Export-Import Bank of Korea Kexim has mandated ABN AMRO, BNP Paribas, Merrill Lynch and Morgan Stanley for a benchmark dollar deal. The transaction, which will be announced this morning, is due to price tonight New York time, say sources.

Rumoured to be no less than $500 million and possibly considerably larger, pricing for the 144a Reg-S five-year transaction was being whispered at 120bp over Treasuries yesterday 55bp over Libor. It will be the Korean bankÆs first and only public dollar-denominated benchmark deal this year, say sources.

The leads have reportedly already approached investors, which has led to some criticism from rival bankers. ôTalking to investors prior to a formal announcement is called...
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