Kia Motors to borrow $450 mln at LIBOR+56 bps-KEIC

SEOUL, April 16 (Reuters) - Kia Motors Corp (000270.KS: Quote, Profile, Research, Stock Buzz) has agreed to borrow $450 million at 56 basis points over LIBOR, the Korea Export Insurance Corp (KEIC), which guaranteed the loan, said on Wednesday.

KEIC said Kia, South Korea's second-largest auto maker, is raising the money from four banks including ABN AMRO AAH.AS, HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz) and ING (ING.AS: Quote, Profile, Research, Stock Buzz) to invest in its first U.S. factory in the state of Georgia. (Reporting by Cheon Jong-woo; Editing by Keiron Henderson)