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The Export-Import Bank of Korea plans inaugural bonds issue in Malaysian capital market
Kuala Lumpur, 31 January 2008:The Export-Import Bank of Korea ("Kexim") plans to enter the Malaysian capital markets through a bonds issuance in the immediate future. RHB Investment Bank Bhd ("RHB Investment Bank") has been appointed as the Principal Adviser and Sole Lead Arranger for Kexim's debut issuance in Malaysia.
This makes Kexim not only the first Korean company proposing to issue bonds in Malaysia but also the first Korean supranational to do so, according to Mr Chay Wai Leong, Managing Director of RHB Investment Bank.
"Apart from this, we look forward to other high-grade issuances by not only Korean issuers but also other high quality non-resident issuers, in the Malaysian capital market. These issues will add both breadth and depth to the range of investment options available to Malaysian investors.
"We hope to play our part in promoting the Malaysian capital markets to the world and we already have a good pipeline of high quality foreign issuers this year," Mr Chay added.
Kexim was established in 1976 as Korea's official export credit agency with pure sovereign status. It provides comprehensive export credit and guarantee programmes to support Korean enterprises in conducting business overseas. Since its establishment in 1976, Kexim has actively supported Korea's export-led economy and facilitated its economic co-operation with foreign countries.
Today, Korea is the world's 12th largest economy in terms of Gross Domestic Product (GDP) and the fifth biggest in terms of foreign exchange reserves. It also leads the world in a number of key industries including shipping and the manufacture of LCD televisions and DRAM computer chips and ranks amongst the top in steel production, automobiles and mobile telecommunications.
The primary services of Kexim include export loans, trade finance, and guarantee programmes structures to meet the needs of clients in a direct effort to both complement and strengthen the clients' competitiveness in global markets. Its also provides overseas investment credit, import credit and information services related to business opportunities abroad. Korea is one of the world's main exporters and has many corporates with global brand names.
The shareholders of Kexim are the Government of the Republic of Korea, the Bank of Korea and Korea Development Bank. Its authorised capital stands at KRW4,000,000 million whilst its paid up capital as of 30 September 2007 is KRW3,308,755 million.
Kexim has an international rating of Aa3 from Moody's Investment Services, which is above the sovereign rating of the Korean Government. It was voted "Borrower of the Year" by The Asset Asian Awards and "Best Investment Grade Bond of the year by AsiaMoney in 2007. Merrill Lynch (Asia Pacific) Limited is the International Financial Adviser to Kexim.
Issued on behalf of RHB Investment Bank Bhd by Group Corporate Communications, RHB Capital Bhd.
For information, please contact:
Mr Yeoh Guan Jin
Assistant General Manager, Group Corporate Communications
RHB Capital Bhd
Tel: +603-9280 2536
Mobile phone: +6012-3835027
Email: guanjin@rhb.com.my
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