New Issue: Korea Development Bank sells $750 million 4% notes due 2016 at 195 bps over Treasuries

By Christine Van Dusen

Atlanta, March 2 - Korea Development Bank priced $750 million 4% notes due Sept. 9, 2016 (A1/A/A+) at 99.512 to yield 4.1%, or Treasuries plus 195 basis points, a market source said.

The notes priced at the lower end of talk, which was set at the Treasuries plus 200 bps area.

Bank of America Merrill Lynch, HSBC, Korea Development Bank, RBS, Standard Chartered and UBS were the bookrunners for the Securities and Exchange Commission-registered deal.

Korea Development Bank is a state-owned lender based in Seoul, South Korea.

Issuer:	Korea Development Bank
Amount:	$750 million
Maturity:	Sept. 9, 2016
Description:	Notes
Bookrunners:	Bank of America Merrill Lynch, HSBC, Korea Development Bank, RBS, Standard Chartered, UBS
Coupon:	4%
Price:	99.512
Yield:	4.1%
Spread:	Treasuries plus 195 bps
Trade date:	March 2
Settlement date:	March 9
Ratings:	Moody's: A1
	Standard & Poor's: A
	Fitch: A+
Distribution:	Securities and Exchange Commission-registered
Price talk:	Treasuries plus 200 bps area

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