South Korea’s state lender Export-Import Bank of Korea (Korea Eximbank) announced Thursday it has successfully sold $500 million in five-year bonds to overseas investors despite market uncertainty due to coronavirus concerns across the world.
The bond’s spread, 47.5 basis points over the five-year U.S. treasury yield of 1.463 percent, was the narrowest among the capital instrument issued to date in Korea, except for sovereign debts, since the 2008-2009 global financial crisis, the bank said.
“The latest offering amid the coronavirus scare that has spilled over to the entire financial market adds international credence to the bank issues,” said a Korea Eximbank official.
By Kim Gang-rae and Lee Ha-yeon
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