By Christine Van Dusen
Atlanta, Jan. 16 - Korea Development Bank priced a combined $1 billion of three- and five-year notes (Aa3/A/AA-) on Tuesday, according to a company filing.
The deal included $500 million 1% notes due in 2016 that priced at 99.515 to yield Treasuries plus 80 basis points.
The second tranche totaled $500 million of 1½% notes due in 2018 that priced at 98.95 to yield Treasuries plus 97.5 bps.
Barclays, Bank of America Merrill Lynch, Daiwa Capital Markets, Goldman Sachs, HSBC, KDB Asia and UBS Investment Bank were the bookrunners for the Securities and Exchange Commission-registered deal.
The proceeds will be used for general operations, including extending foreign currency loans, repayment of maturing debt and other obligations.
Korea Development Bank is based in Seoul, South Korea.
| Issuer: | Korea Development Bank
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Bank of America Merrill Lynch, Daiwa Capital markets, Goldman Sachs, HSBC, KDB Asia, UBS Investment Bank
|
| Trade date: | Jan. 15
|
| Settlement date: | Jan. 22
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A
|
| Fitch: AA-
|
| Distribution: | Securities and Exchange Commission registered
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 22, 2016
|
| Coupon: | 1%
|
| Price: | 99.515
|
| Spread: | Treasuries plus 80 bps
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 22, 2018
|
| Coupon: | 1½%
|
| Price: | 98.95
|
| Spread: | Treasuries plus 97.5 bps
|
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