By Reshmi Basu
New York, July 13 - Korea Development Bank priced $1 billion of five-year global bonds (A3/A-) at 99.683 to yield Treasuries plus 115 basis points, according to a market source.
The five-year benchmark deal came at the tight end of price talk. The deal was talked at Treasuries plus 115 to 120 basis points.
Proceeds will be used to refinance maturing debt.
Barclays plc, Credit Suisse First Boston and HSBC Holdings plc ran the books.
| Issuer: | Korea Development Bank
|
| Amount: | $1 billion
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| Issue: | Global bonds
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| Maturity: | July 20, 2009
|
| Coupon: | 4¾%
|
| Issue price: | 99.683
|
| Yield: | 4.822%
|
| Yield spread: | Treasuries plus 115 basis points
|
| Pricing date: | July 13
|
| Settlement date: | July 20
|
| Bookrunners: | Barclays plc, Credit Suisse First Boston, and HSBC Holdings plc
|
| Ratings: | Moody's: A3
|
| Standard and Poor's: A-
|
| Price talk: | Treasuries plus 115 to 120 basis points
|
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