Sooeun Introduces $800 Million Syndicated Loan

Record-High Bank Loan Introduced by Korean Financial Institution

The Export-Import Bank of Korea announced on the 26th that it has introduced a bank loan of 800 million dollars by selecting Mizuho Bank of Japan as the sole lead arranger. This is the largest bank loan ever introduced by a Korean financial institution.

This bank loan was introduced through a syndicated loan method involving a total of 14 banks, including Mizuho Bank, as the lending consortium. A syndicated loan refers to a loan where two or more banks form a lending group and provide a certain amount of medium- to long-term financing under common terms.

The maturities and amounts are 3 years for 300 million dollars and 5 years for 500 million dollars, respectively.

Regarding this, Yoon Hee-sung, President of the Export-Import Bank of Korea, met with Seiji Imai, Chairman of Mizuho Financial Group, and Hidekatsu Take, Head of Corporate Finance at Mizuho Bank, at Mizuho Bank’s headquarters in Tokyo on the 24th and signed the bank loan agreement.

President Yoon stated, “Amid the restoration of Korea-Japan relations following the bilateral summit in March, the Export-Import Bank of Korea and Mizuho Bank have laid the foundation for resuming cooperation between financial institutions of the two countries. We plan to continue strengthening cooperation with Japanese financial institutions that have abundant liquidity to secure high-quality export financing resources.”

Meanwhile, this bank loan was introduced in the form of a social loan, which uses the procured funds for projects that create social value, and all the funds raised will be fully supported to small and medium-sized enterprises and mid-sized companies that contribute to job creation.