Eximbank to sell US$1.5 bln in overseas bonds by year-end

SEOUL, Oct. 16 (Yonhap) -- The Export-Import Bank of Korea (Eximbank) said Friday
it plans to issue US$1.5 billion in foreign-currency-denominated bonds by the end
of this year to provide trade financing for local exporters.
The state-run trade lender will also raise 2 trillion won ($1.7 billion) by
selling debts in the local currency by year's end, KDB said in a report to
lawmakers.
"(KDB) will increase trade financing for exporters of capital goods including
industrial plants and vessels and strengthen financial support for medium-sized
exporters, eco-friendly firms and resource developers," the lender said.
According to the report, local shipbuilders' vessel orders are estimated to fall
86 percent from a year earlier to $9 billion this year. Orders for overseas
industrial plants could plunge 35 percent to $30 billion, while construction
orders may fall 20 percent to $16.6 billion, it said.
KDB also said it will put aside more loan-loss provisions against $500 million in
loans it extended to ailing French shipper CMA CGM, which is said to be
rescheduling debts due to a plunge in sea freight and traffic.
pbr@yna.co.kr
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