Eximbank raises US$612 mln via debt sale

The Export-Import Bank of Korea (Eximbank) said Monday it has raised US$612 million by selling debts in Japan. The policy lender sold the so-called "Uridashi" bonds at an interest rate at least 0.5 percentage point higher than corresponding dollar-denominated bonds. The Uridashi bonds are debts denominated in a non-Japanese foreign currency sold directly to Japanese retail investors. The debts were issued in six different tranches, with maturities ranging from three to six years, according to the policy lender. The bonds were denominated in four different currencies: the Australian dollar, the New Zealand dollar, the Brazilian real and the Turkish lira, it said. The Eximbank said it plans to continue to increase the size of its Uridashi bond issuance in the future. In January, the policy lender raised 40 billion Japanese yen (US$512 million) through Uridashi bond sales.