kexim-pays-premium-for-jumbo-deal

Kexim pays premium for jumbo deal

Export-Import Bank of Korea sets the pace for other Korean borrowers by raising $2 billion without an explicit government guarantee.
The Export-Import Bank of Korea Kexim sold $2 billion of five-year senior notes yesterday, and paid a premium price in order to satisfy a major part of its funding requirement for this year.

Kim Jinkyung, KeximÆs chief financial officer, told FinanceAsia that, although Kexim ôwould have liked tighter pricing, a smaller issue size would not necessarily have made that easier to achieve. Besides, we preferred to opt for a large-size benchmark dealö.

The bonds were issued at a yield of 8.218% which was 677.7bp over the five-year US Treasury yield, 625bp over mid-swaps, 280bp over Kexim credit default swaps and 350bp over the Korean sovereign CDS. Initial price talk had suggested a spread...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222