New Issue: Korea Development Bank sells upsized $750 million 4 3/8% 5.5-year notes to yield 4.432%

By Paul A. Harris

St. Louis, Feb. 3 - Korea Development Bank priced an upsized $750 million issue of 4 3/8% 5.5-year fixed-rate senior notes (A2/A/A+) at a 203 basis points spread to Treasuries on Wednesday, according to an informed source.

The spread came tight to the Treasuries plus 205 bps price talk.

The notes were priced at 99.724 to yield 4.432%.

Bank of America Merrill Lynch, BNP Paribas, Daewoo Securities, HSBC and Morgan Stanley managed the sale.

Issuer:	Korea Development Bank
Amount:	$750 million, increased from $500 million
Maturity:	Aug. 10, 2015
Securities:	Fixed-rate senior unsecured notes
Bookrunners:	Bank of America Merrill Lynch, BNP Paribas, Daewoo Securities, HSBC, Morgan Stanley
Coupon:	4 3/8%
Price:	99.724
Yield:	4.432%
Spread:	203 bps
Trade date:	Feb. 3
Settlement date:	Feb. 10
Ratings:	Moody's: A2
	Standard & Poor's: A
	Fitch: A+
Distribution:	SEC registered
Price talk:	205 bps

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