New Issue: Korea Development Bank prices $1.5 billion notes due 2017, 2024

By Christine Van Dusen

Atlanta, Jan. 13 - Korea Development Bank priced a $1.5 billion two-tranche issue of notes due in 2017 and 2024 (expected ratings: Aa3//AA-) in a Securities and Exchange Commission-registered deal, according to a syndicate source.

The deal included $750 million fixed-rate notes that priced at par to yield Libor plus 62.5 basis points. The notes were talked at Libor plus the 65 bps area.

The second tranche totaled $750 million 3¾% 10-year notes that priced at 99.07 to yield Treasuries plus 102.5 bps.

The notes were talked at a spread in the Treasuries plus 105 bps area.

Barclays, BNP Paribas, BofA Merrill Lynch, Citigroup, HSBC, KDB Asia, Morgan Stanley and Standard Chartered Bank were the bookrunners for the deal.

Issuer:	Korea Development Bank
Amount:	$1.5 billion
Description:	Notes
Bookrunners:	Barclays, BNP Paribas, BofA Merrill Lynch, Citigroup, HSBC, KDB Asia, Morgan Stanley, Standard Chartered Bank
Trade date:	Jan. 13
Settlement date:	Jan. 22
Expected ratings:	Moody's: Aa3
	Fitch: AA-
Distribution:	Securities and Exchange Commission registered
Three-year notes
Amount:	$750 million
Description:	Fixed-rate notes
Maturity:	Jan. 22, 2017
Coupon:	Libor plus 62.5 bps
Price:	Par
Yield:	Libor plus 62.5 bps
Price talk:	Libor plus 65 bps area
10-year notes
Amount:	$750 million
Maturity:	Jan. 22, 2024
Coupon:	3¾%
Price:	99.07
Spread:	Treasuries plus 102.5 bps
Price talk:	Treasuries plus 105 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.