KEXIM adds new evaluation criteria for selecting bond underwriters Korean state-controlled lender issues RFP seeking managers for global bond issuance
Translated by Kim So-in 공개 2021-12-03 08:14:09
이 기사는 2021년 12월 03일 08:09 thebell 에 표출된 기사입니다.
The Export-Import Bank of Korea (KEXIM) has added new evaluation criteria to its request for proposal seeking underwriters for its global bond (SEC registered) issuance as it plans to issue more Korean papers.The state-controlled lender recently started a process to hire managers for its global bond issuance and sent a RFP to major brokerage firms at home and abroad. The bank plans to finish the selection next month and carry out a book building process in early January of next year.
KEXIM added a new questionnaire to its RFP that allows applying firms to show their characteristics with an emphasis on a qualitative evaluation. Each firm was asked to answer questions regarding an appropriate fundraising volume for the KEXIM, strategies to strengthen their competiveness, and performing duties after being selected as an underwriter.
This coincides with KEXIM's drive to increase the amount of bond issuance. KEXIM also asked each house to self-evaluate their high-quality liquid assets.
Domestic issuers, including KEXIM, normally select their bond underwriters based on candidates’ issuance strategy suitable for the market environment, track records, and each firm’s contribution to the issuer.
KEXIM has led the expansion of the Korean paper market not only by issuing large-scale foreign currency-denominated bonds more than three or four times a year but also by selling bonds denominated in foreign currencies other than U.S. dollars, Japanese yen, and euro. KEXIM was the first-ever domestic issuer that sold Mexican peso-denominated bond in the Mexican market. (Reporting by Hye-rim Pi)
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