Chicago, May 16 – Korea Development Bank priced €750 million of 3 3/8% five-year bonds at 99.76 to yield 3.428% (Aa2/AA/AA-) on Tuesday, a market source detailed.
The spread came in at mid-swaps plus 43 basis points. Guidance started in the high 40 bps area. Final guidance was mid-swaps plus 43 bps to 45 bps.
BNP Paribas, Credit Agricole CIB, HSBC (billing and delivery), JPMorgan, KDB Asia and Natixis are listed as joint bookrunners and joint lead managers on the Regulation S deal.
The order book was over €1.1 billion.
Proceeds will be used for general corporate purposes.
The lender is based in Seoul, South Korea.
| Issuer: | Korea Development Bank
|
| Amount: | €750 million
|
| Issue: | Senior bonds
|
| Maturity: | May 23, 2028
|
| Bookrunners: | BNP Paribas, Credit Agricole CIB, HSBC (billing and delivery), JPMorgan, KDB Asia and Natixis
|
| Coupon: | 3 3/8%
|
| Price: | 99.76
|
| Yield: | 3.428%
|
| Spread: | Mid-swaps plus 43 bps
|
| Trade date: | May 16
|
| Settlement date: | May 23
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
| Fitch: AA-
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus high 40 bps area
|
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