New Issue: Korea Development Bank sells $900 million 3¼% notes due 2016 at Treasuries plus 185 bps

By Christine Van Dusen

Atlanta, Sept. 1 - Korea Development Bank priced $900 million 3¼% notes (A1) due March 9, 2016 at 99.98 to yield 3.254%, or Treasuries plus 185 basis points, an informed market source said.

Barclays Capital, Citigroup, Credit Agricole CIB, Deutsche Bank, JPMorgan and KDB Asia Ltd. were the bookrunners for the Securities and Exchange Commission-registered deal.

Proceeds will be used for general operations, including extending foreign currency loans and repayment of maturing debt and other obligations, according to a 424B5 filing with the SEC.

KDB is a state-owned lender based in Seoul.

Issuer:	Korea Development Bank
Amount:	$900 million
Maturity:	March 9, 2016
Description:	Senior notes
Bookrunners:	Barclays Capital, Citigroup, Credit Agricole CIB, Deutsche Bank, JPMorgan, KDB Asia Ltd.
Coupon:	3¼%
Price:	99.98
Yield:	3.254%
Spread:	Treasuries plus 185 bps
Trade date:	Sept. 1
Settlement date:	Sept. 9
Rating:	Moody's: A1
Distribution:	Securities and Exchange Commission-registered

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