Kexim targets ringgits to cut funding costs

05 Feb 2009

The Export-Import Bank of Korea (Kexim) reopened Malaysia’s ringgit bond market for international borrowers on Wednesday night, raising M$220m ($61m) in a three year deal.

It is the first offshore issue in the Malaysian bond market since September, and bankers will be hoping that the deal will clear a path for other Korean credits to follow as they look to reduce their dollar funding costs.

The bond was priced at a coupon of 4.75%, ...

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