Signs of resistance to Korean loan pricing

Kexim has mandated six banks for its $300 million loan as KEB and KorAm close their deals with varying degrees of success.

The Export-Import Bank of Korea Kexim has mandated six banks for a $300 million transferable term loan facility. The mandated banks are ABN AMRO, BA Asia, Barclays Capital, DBS Bank, Sumitomo Mitsui Banking Corporation SMBC and Tokyo-Mitsubishi International. The deal will be launched into general syndication early next week. DBS Bank is the publicity agent for the transaction.

As with the KDB deal, Kexim's loan also comprises three tranches of equal size and tenors of one-, two- and three years. Both the banks are government-owned and rated A3 and A- by Moody's and Standard Poor's respectively.

Pricing on the Kexim deal is also likely to be similar to that on KDB's transaction. KDB...

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