Here's yer Tuesday blog add:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aR5NGOMkBJ9M&refer=home

EXIM Bank of Korea to Sell $1 Billion of U.S. Bonds, People Say

By Denise Kee

Oct. 10 (Bloomberg) -- Export-Import Bank of Korea, a state-run bank, plans to raise $1 billion in its biggest bond sale, according to three people familiar with the sale.

The five-year bonds are likely to be priced today to yield 1.2 percentage points more than U.S. Treasuries of a similar maturity, according to the people, who declined to be identified before an official announcement. The Seoul-based bank hired ABN Amro Holding NV, BNP Paribas SA, Merrill Lynch & Co and Morgan Stanley for the sale, according to an e-mail to investors today.

EXIM Bank of Korea is selling the bonds after ICICI Bank Ltd., India's second-biggest financial services company, raised $2 billion of notes on Sept. 26, a sign that investor risk appetite is returning to the Asian credit markets.

The EXIM Bank of Korea's bond sale ``should clear the path for the other policy banks there as well as for the lenders in India and Indonesia,'' Brett Williams, a director of Asian fixed-income research at BNP Paribas, who is based in Hong Kong, said in a note to investors today.

The U.S. Federal Reserve cut the benchmark rate for overnight borrowing by half a percentage point to 4.75 percent on Sept. 18, and brought stability to credit markets roiled by losses in securities linked to U.S. subprime mortgage loans.

EXIM Bank of Korea's biggest bond issue outstanding of $1.1 billion was raised in two portions, $700 million in November 2002 and $400 million in May 2003, according to data compiled by Bloomberg. The bank is paying about 1.27 percentage points more than U.S. Treasuries for the bonds.

The bank last sold U.S. dollar bonds in August, raising $100 million, according to Bloomberg data. The zero-coupon bonds were priced at 98.38 percent, Bloomberg data show. The sale was arranged by BNP Paribas.

Moody's Investors Service rates the bank Aa3, the fourth- highest investment grade. Standard & Poor's ranks the bank A, the sixth-highest investment grade and two steps lower than Moody's.

Last Updated: October 9, 2007 21:29 EDT
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Today:

Alcoa missed, International Paper warned, Chevron warned, Toyota warned on domestic (Japanese) sales after already warning on US Sales. The bad news is starting..... and no, the market won't like it. Be careful if you intend to play what looks like a parbolic blow-off - we could fail here literally at any time and that failure is likely to come completely without warning in the form of a huge gap downward.