Near-perfect Kexim scores record price, new investors
The Export-Import Bank of Korea returned to form in the international bond market this week with a well-executed Eu750m 10 year issue that re-established its reputation as one of Asia's most sophisticated benchmark issuers.
The bond was its longest and largest deal in euros and won Kexim its tightest ever 10 year spread, relative to dollar Libor, of around 27bp.
Kexim banished memories of last September, when its $500m five year and $300m 10 year issue received a disappointing response from investors.
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