By Rebecca Melvin
Concord, N.H., Feb. 18 – Korea Development Bank priced $1.5 billion of notes (expected ratings: Aa2/AA/AA-) in two parts due 2025 and 2027. A third tranche of green notes was also expected to price, according to FWP filings and a 424B5 filing with the Securities and Exchange Commission.
Joint bookrunners and lead managers for the notes are BofA Securities Inc., BNP Paribas SA, HSBC Ltd., J.P. Morgan Securities LLC, KDB Asia Ltd., Societe Generale CIB and UBS AG Hong Kong Branch.
The $1 billion tranche of 2% notes due Feb. 24, 2025 priced at 99.633, and the $500 million tranche of 2¼% notes due Feb. 24, 2027 priced at 99.489. The deals priced on Wednesday.
Proceeds will be used for general operations. Proceeds from the green notes will be used toward financing and/or refinancing new or existing projects from eligible green categories. Sustainalytics provided a second-party opinion.
Approval in-principle has been received from the Singapore Exchange Securities Trading Ltd. for the listing and quotation of the notes.
The fiscal agent is Bank of New York Mellon.
The bank is based in Seoul, South Korea.
Issuer: | Korea Development Bank
|
Amount: | $1.5 billion
|
Issue: | Notes
|
Bookrunners: | BofA Securities Inc., BNP Paribas SA, HSBC Ltd., J.P. Morgan Securities LLC, KDB Asia Ltd., Societe Generale CIB and UBS AG Hong Kong Branch
|
Co-manager: | Kexim Asia Ltd.
|
Fiscal agent: | Bank of New York Mellon
|
Pricing date: | Feb. 16
|
Settlement date: | Feb. 24
|
Ratings: | Moody’s: Aa2
|
| S&P: AA
|
| Fitch: AA-
|
|
2025 notes
|
Amount: | $1 billion
|
Maturity: | Feb. 24, 2025
|
Coupon: | 2%
|
Price: | 99.633
|
Cusip: | 500630DQ8
|
|
2027 notes
|
Amount: | $500 million
|
Maturity: | Feb. 24, 2027
|
Coupon: | 2¼%
|
Price: | 99.489
|
Cusip: | 500630DR6
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.