Export-Import Bank issues global bonds worth 2.5 billion won

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Export-Import Bank issues global bonds worth 2.5 billion won

The state-run Export-Import Bank of Korea (Eximbank) has succeeded issuing global bonds worth $2.5 billion to attract money from investors across the world, the bank announced on Thursday.

It is the largest bond issuance ever made by a Korean financial institution. The Korea Eximbank aims to use the foreign money to finance local companies’ overseas infrastructure and plant construction as well as overseas natural resource development projects, in hopes of attracting more money and helping troubled Korean major industries to revive.

Of the $2.5 billion, bonds worth $1.5 billion are short-term with three-year maturity, and the remaining $1 billion were issued with 10 year maturity.

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