By Christine Van Dusen
Atlanta, June 27 - Korea Development Bank priced a $500 million add-on to its existing 3½% notes due Aug. 22, 2017 (A1/A/A+) at 104.422, according to a company filing.
Barclays Capital, Citigroup, KDB Asia, Standard Chartered Bank and UBS were the bookrunners for the Securities and Exchange Commission-registered deal.
The original issue of $750 million notes due 2017 was issued on Feb. 22 at a spread of 275 basis points over Treasuries.
Proceeds will be used for the bank's general operations, including extending foreign currency loans and repayment of maturing debt and other obligations.
The bank is based in Seoul, South Korea.
| Issuer: | Korea Development Bank
|
| Amount: | $500 million
|
| Maturity: | Aug. 22, 2017
|
| Description: | Notes
|
| Bookrunners: | Barclays Capital, Citigroup, KDB Asia, Standard Chartered Bank, UBS
|
| Coupon: | 3½%
|
| Price: | 104.422
|
| Trade date: | June 27
|
| Settlement date: | July 5
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Distribution: | Securities and Exchange Commission registered
|
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