Korea Development Bank plans two-tranche notes offering

By Reshmi Basu

New York, March 26 - The Korea Development Bank plans to issue a two-part offering of dollar- and euro-denominated floating-rate notes (A3/A), according to a prospectus filed with the Securities and Exchange Commission.

The dollar-denominated tranche will carry a tenor of three years while the euro-denominated tranche will bear a maturity of seven years.

Proceeds from the sale will be used for general operations, including repayment of maturing debt and other obligations.

ABN Amro, JP Morgan, Merrill Lynch and UBS Investment Bank are joint lead managers.

The issuer is a state-run bank based in Seoul.

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