Korea Development Bank's $500 million seven-year floater expected to pay Libor plus high-20s to low-30s

By Paul A. Harris

St. Louis, Nov. 14 - Government-owned Korea Development Bank expects to price a quick-to-market $500 million offering of seven-year floating-rate notes with an interest rate in the Libor plus the high-20 basis point area on the tight end, or a Libor plus the low-30 basis point area on the wide end, according to a syndicate source.

Pricing is expected on Tuesday.

Barclays Capital, Credit Suisse First Boston and Morgan Stanley are the underwriters.

Moody's Investors Service assigns its A3 rating to the notes. The Standard & Poor's rating is A.

Korea Development Bank is a Seoul, Korea, financial institution.

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