Korea Development Bank talks five-year dollar benchmark bond at Treasuries plus 675 bps to 700 bps

By Aaron Hochman-Zimmerman

New York, Jan. 15 - The Korea Development Bank will offer five-year dollar-denominated benchmark senior fixed-rate notes (Aa3/A/A+), according to a market source.

The deal was talked at 675 basis points to 700 bps and is likely to price on Friday.

BNP Paribas, Deutsche Bank, HSBC, Merrill Lynch and RBS are bookrunners for the registered deal.

There is a put at par if there is any decrease in government holding of the bank.

Proceeds from the sale will be used for general operations, including extending foreign currency loans and repayment of maturing debt.

The KDB is a Seoul-based development lender.

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