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Eximbank floats US$2.5 bln in dollar bonds

Corporate Newsroom 09:21 September 07, 2022

SEOUL, Sept. 7 (Yonhap) -- The state-run Export-Import Bank of Korea (Eximbank) said Wednesday that it has issued US$2.5 billion worth of dollar bonds to foreign investors.

The state lender has sold two-year bonds worth $1 billion, $1 billion in five-year bonds and $500 million in 10-year bonds, all in fixed rates.

The two-year dollar bonds carry a yield of 4.059 percent, and the five-year dollar debt yields 4.348 percent. The 10-year dollar bonds yield 4.542 percent.

This marks the Eximbank's first public issuance of two-year foreign-currency bonds, the lender said.

The bond issuance came amid the uncertainties in the global financial markets, led by soaring inflation and concerns about stagflation around the world.

Central banks in major economies, including the Bank of Korea, have been pushing aggressive rate hikes to tame the price pressure.

In January, the Eximbank floated $3 billion worth of dollar-denominated bonds, the largest-ever issuance of foreign-currency bonds among local institutions except the government.

The headquarters of the Export-Import Bank of Korea in Seoul (Yonhap)

jwc@yna.co.kr
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