Cleary Gottlieb Steen & Hamilton and Davis Polk & Wardwell have had the lead roles on Export-Import Bank of Korea’s $1 billion notes offer.

Korea’s export credit agency, also known as KEXIM, sold one $500 million tranche in five-year notes and one $500 million tranche in 12-year bonds. Proceeds will be used to extend loans, repay existing debt and for other general operation purposes.

Cleary Gottlieb Hong Kong partner Jinduk Han led a team advising KEXIM. He also acted for agency on a $1.5 billion notes offer in January and a $1 billion offer last September. Lee & Ko Seoul partner Hyunjoo Oh served as Korean counsel.

Davis Polk Hong Kong partner Eugene Gregor led a team representing underwriters ANZ Securities, BNP Paribas, Citigroup Global Markets Inc., Hongkong and Shanghai Banking Corp. Ltd., Merrill Lynch, Pierce, Fenner & Smith Inc., Standard Chartered Bank and Daewoo Securities Co. Ltd. The pair also acted for the underwriters of the January offer.