New Issue: Korea Development Bank sells $1.5 billion of notes in three tranches

By Taylor Fox

New York, Jan. 12 – Korea Development Bank sold a combined $1.5 billion of notes in three tranches on Monday, according to an FWP filing with the Securities and Exchange Commission.

The bank priced $700 million of 0.4% notes due June 19, 2024 at 99.756, $500 million of 0.8% notes due July 19, 2026 at 99.759; and $300 million of 1 5/8% notes due Jan. 19, 2031 at 99.715.

BNP Paribas, BofA Securities, Inc., J.P. Morgan Securities LLC, KDB Asia Ltd., Societe Generale, Standard Chartered Bank and UBS AG Hong Kong Branch were the joint bookrunners.

The lender is based in Seoul, South Korea.

Issuer:	Korea Development Bank
Issue:	Notes
Amount:	$1.5 billion
Bookrunners:	BNP Paribas, BofA Securities, Inc., J.P. Morgan Securities LLC, KDB Asia Ltd., Societe Generale, Standard Chartered Bank and UBS AG Hong Kong Branch
Co-manager:	Kexim Asia Ltd.
Trade date:	Jan. 11
Settlement date:	Jan. 19
Ratings:	Moody’s: Aa2
	S&P: AA
	Fitch: AA-
Distribution:	SEC registered
2024 notes
Amount:	$700 million
Maturity:	June 19, 2024
Coupon:	0.4%
Price:	99.756
2026 notes
Amount:	$500 million
Maturity:	July 19, 2026
Coupon:	0.8%
Price:	99.759
2031 notes
Amount:	$300 million
Maturity:	Jan. 19, 2031
Coupon:	1 5/8%
Price:	99.715

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