Commentary & Deal Flow

Reoffer: 3yr: T+45bp / 100 / 4.591%
Benchmark: 3yr: T 3⅞ 15-May-29 @ 99-08¼ / 4.141%

Launched: 3yr: US$300m @ T+45bp
Guidance: 3yr: T+45# - Orderbooks > US$1.25bn
IPTs: 3yr: T+70a

• Issuer: KODIT Global 2026-1 Co., Ltd.
• Issuer LEI: 9884004B8B82DD9SRO95
• Guarantor: Korea Credit Guarantee Fund
• Guarantor LEI: 9884001XL6IT2Z91ZA14
• Guarantor Ratings: Aa2 (Stable)/AA (Stable) (Moody's/S&P)
• Expected Issue Ratings: Aa2/AA (Moody's/S&P)
• Format: 144A / 3c7 / Reg S
• Type: Fixed Rate, Guaranteed Senior Unsecured Bond
• Guarantee: Unconditional and irrevocable guarantee for the due and punctual payment of all sums from time to time payable by the Issuer in respect of the Bonds. The Guarantee relating to the Bonds constitutes a direct, general and unconditional obligation of the Guarantor which will be unsecured and will rank pari passu with all other present and future unsecured and unsubordinated obligations of the Guarantor.
• Size: US$300m
• Tenor: 3-year
• Settlement Date: 28-May-26
• Maturity Date: 28-May-29
• Coupon: 4.591% (S/A, 30/360)
• Reoffer Spread: T+45bp
• Reoffer Yield: 4.591%
• Reoffer Price: 100
• Pricing UST Reference: T 3⅞ 15-May-29 (CT3)
• Pricing UST Price / Yield: 99-08¼ / 4.141%
• COC Put: At Par, when Korea ceases to control (directly or indirectly) the Guarantor or for any reason fails to provide the financial support to the Guarantor stipulated by Article 41 of The Korea Credit Guarantee Fund Act of 1975, as amended ("Article 41") or Article 41 is amended in a manner which prejudices the rights of the holders of the Bonds, or is repealed. Korea Credit Guarantee Fund Act of 1975, as amended: https://elaw.klri.re.kr/kor_service/lawView.do?hseq=49598&lang=ENG
• Use of Proceeds: General Corporate Purposes
• Terms: SGX Listing, US$200k/1k Denoms, English Law
• Joint Bookrunners: HSBC, Standard Chartered Bank (B&D), UBS
• ISIN:
• • 144A: XS3382828260
  • Reg S: XS3382828187
• Online Roadshow: www.netroadshow.com / Entry Code: KODIT2026 / Direct Link: www.netroadshow.com/nrs/home/#!/?show=8bd753da
• Stabilization: FCA / ICMA stabilization applies