New Issue: Korea Development Bank $500 million seven-year notes yield Libor plus 28 bps

By Reshmi Basu

New York, Nov. 15 - Government-owned Korea Development Bank priced $500 million seven-year floating-rate notes (A3/A/A+) at par to yield Libor plus 28 basis points, according to a market source.

The deal came in line with price guidance. Guidance had been set Monday in the area of Libor plus the high-20 basis points to low-30 basis points.

Barclays Capital, Credit Suisse First Boston and Morgan Stanley were the joint lead managers for the offering of Securities and Exchange Commission registered notes.

Issuer:	Korea Development Bank
Amount:	$500 million
Issue:	Floating-rate notes
Maturity:	Nov. 22, 2012
Coupon:	Three-month Libor plus 28 bps
Issue price:	Par
Yield:	Three-month Libor plus 28 bps
Pricing date:	Nov. 15
Settlement date:	Nov. 22
Lead managers:	Barclays Capital, Credit Suisse First Boston, Morgan Stanley
Ratings:	Moody's: A3
	Standard & Poor's: A
	Fitch: A+
Price guidance:	Libor plus the high-20 bps to low-30 bps area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.