Exclusive-South Korea lining up banks to help finance $22 billion arms sale to Poland

FILE PHOTO: A K9 howitzer, delivered in the first batch of arms from South Korea under contracts signed in recent months, fires during a military drill at a military range in Wierzbiny near Orzysz, Poland, March 30, 2023. REUTERS/Kacper Pempel/File Photo

(Reuters) - After hitting statutory limits on import-export lending, South Korea is gathering local banks to help Poland buy $22 billion worth of weapons in Seoul's largest arms sale, five people familiar with the matter told Reuters.

"Five local banks are reviewing a syndicated loan as a support measure" to help Poland finance its purchase of South Korean rocket artillery systems and fighter jets, a South Korean government official said, speaking on condition of anonymity to discuss ongoing planning.