Korean policy bank Export Import Bank of Korea Kexim printed a $700 million five-and-a-half-year senior bond early yesterday morning, after originally planning to raise up to $1 billion.
The bonds priced at Treasuries plus 170bp, at the tight end of the initial guidance, which was at the area of Treasuries plus 175bp. The coupon was fixed at 3.75%, and the notes reoffered at 99.332 to yield 3.886%. Bank of America Merrill Lynch, HSBC, Royal Bank of Scotland, Standard Chartered and UBS were joint bookrunners. Samsung Securities was a lead manager.
“I think if you look at the Kexim deal, on a spread over Treasuries basis, it...
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