Korea Eximbank issues $580m Kangaroo bonds

This is the largest amount raised by a South Korean lender.

South Korean state-run Export-Import Bank of Korea (Eximbank) issued $580m (AU$850m) Australian bonds, the Yonhap News Agency reported.

By far, this is the biggest amount raised by a lender in South Korea.

The “Kangaroo bonds” are Australian dollar-denominated bonds issued by non-locals in Australia.

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This will come in two phases. The first tranche will have three-year bonds worth $330.4m whilst the second tranche will come in five-year bonds amounting to $231.2m.

The bank has accumulated $4.03b since 2012 from auctioning off Kangaroo bonds.

In January, they achieved a record debt sale of $1.7b, followed by a $1.3b euro-denominated bond sale in May.

(AU$1.00 = $0.66)