New Issue: Korea Development Bank $750 million five-year bonds yield Treasuries plus 76 bps

By Paul A. Harris

St. Louis, Sept. 9 - Korea Development Bank priced $750 million five-year bonds (A3/A/A) at 99.71 with a 4 5/8% coupon to yield 4.68%, or 76 basis points over U.S. Treasuries.

The issue priced slightly tighter that the 77 basis point guidance, according to a market source.

HSBC, JP Morgan and Merrill Lynch & Co. were the managers.

The issuer is a Seoul-based financial institution.

Issuer:	Korea Development Bank
Amount:	$750 million
Maturity:	Sept. 16, 2010
Bookrunners:	HSBC, JP Morgan, Merrill Lynch
Coupon:	4 5/8%
Price:	99.71
Yield:	4.68%
Spread:	U.S. Treasuries plus 76 basis points
Trade date:	Sept. 9
Settlement date:	Sept. 16
Ratings:	Moody's: A3
	Standard & Poor's: A
	Fitch: A
Price talk:	Treasuries plus 77 basis points

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