New Issue: Korea Development Bank prices $750 million 2˝% notes due 2020 at 82.5 bps spread

By Christine Van Dusen

Atlanta, Sept. 2 – Korea Development Bank sold $750 million 2˝% notes due March 11, 2020 (expected ratings: Aa3//AA-) at 99.98 to yield Treasuries plus 82.5 basis points, a market source said.

The notes priced tighter than talk, set in the Treasuries plus 95 bps area.

BNP Paribas, BofA Merrill Lynch, Deutsche Bank, JPMorgan, KDB Asia, Mizuho Securities and Standard Chartered 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 and repaying maturing debt, according to a company filing.

Issuer:	Korea Development Bank
Amount:	$750 million
Maturity:	March 11, 2020
Description:	Senior notes
Bookrunners:	BNP Paribas, BofA Merrill Lynch, Deutsche Bank, JPMorgan, KDB Asia, Mizuho Securities, Standard Chartered Bank
Coupon:	2˝%
Price:	99.98
Spread:	Treasuries plus 82.5 bps
Trade date:	Sept. 2
Settlement date:	Sept. 11
Expected ratings:	Moody’s: Aa3
	Fitch: AA-
Distribution:	Securities and Exchange Commission registered
Price talk:	Treasuries plus 95 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.