Eximbank to issue over US$5 mln in global bonds

By Kim Soo-yeon
SEOUL, July 7 (Yonhap) -- The Export-Import Bank of Korea (Eximbank) said
Tuesday it plans to sell dollar-denominated bonds worth more than US$5 million
amid easing global financial turmoil.
The state-run trade bank said the bonds will mature in five years and six months,
adding that the exact size and interest rates of the debt issuance will be
announced after inviting investors on Wednesday.
The planned bond sale comes as Kim Dong-soo, chairman of Eximbank, said in a
recent press conference that the bank hopes to play a role in setting a benchmark
of debt issuance for other local banks and companies.
Six financial firms including Merrill Lynch & Co. will manage the sale, it added.
In January, Eximbank issued $2 billion worth of bonds to foreign investors,
helping set the stage for local lenders to sell overseas debt in the midst of the
global financial meltdown.
The lender aims to raise a total of $8 billion this year in overseas markets, out
of which it has borrowed $6.65 billion.
sooyeon@yna.co.kr
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