The Export-Import Bank of Korea Kexim completed its biggest bond to date on Wednesday, with a record breaking $2.5 billion triple-tranche offering.
The Aa2AA-AA- deal was executed against a volatile Treasury market backdrop and at an interesting juncture in Kexim's own history as it prepares to help the government bail out the country's ailing shipbuilding industry.
Its market entrance also follows a month-long lull in activity from the Republic following Kia Motors' enormously popular $700 million deal in mid-April, which attracted a $10 billion order book.
Kexim's peak order book topped $6.5 billion, according to...
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