Published on 10/14/2004 in the Prospect News Emerging Markets Daily.
New Issue: Korea Development Bank sells upsized $550 million five-year notes at Libor plus 42 bps
By Reshmi Basu
New York, Oct. 14 - Korea Development Bank priced an upsized $550 million of five-year floating-rate notes (A3/A-) Wednesday at 99.905 with a coupon of three-month Libor plus 40 basis points for a discount margin of three-month Libor plus 42 basis points, according to a market source.
The book was five times oversubscribed and was increased from $500 million.
Goldman Sachs and Morgan Stanley ran the Securities and Exchange Commission-registered offering for the policy bank.
| Issuer: | Korea Development Bank
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| Amount: | $550 million (upsized from $500 million)
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| Issue: | Floating-rate notes
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| Maturity: | Oct. 20, 2009
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| Coupon: | Three-month Libor plus 40 basis points
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| Issue price: | 99.905
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| Yield: | Three-month Libor plus 42 basis points
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| Pricing date: | Oct. 13
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| Settlement date | Oct. 20
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| Joint bookrunners: | Goldman Sachs, Morgan Stanley
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| Ratings: | Moody's: A3
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| Standard & Poor's: A-
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