Published on 11/13/2014 in the Prospect News Emerging Markets Daily.
New Issue: Korea Development Bank sells £250 million 2% notes due 2018 at 100 bps spread
By Christine Van Dusen
Atlanta, Nov. 13 – Korea Development Bank printed £250 million 2% notes due Dec. 20, 2018 (expected ratings: Aa3//AA-) at 99.654 to yield 2.078%, or Gilts plus 100 basis points, a market source said.
The notes were talked at a spread in the low-100 bps area.
Barclays and RBS were the bookrunners for the Regulation S deal.
| Issuer: | Korea Development Bank
|
| Amount: | £250 million
|
| Maturity: | Dec. 20, 2018
|
| Description: | Notes
|
| Bookrunners: | Barclays, RBS
|
| Coupon: | 2%
|
| Price: | 99.654
|
| Yield: | 2.078%
|
| Spread: | Gilts plus 100 bps
|
| Trade date: | Nov. 13
|
| Settlement date: | Dec. 20
|
| Expected ratings: | Moody’s: Aa3
|
| Fitch: AA-
|
| Distribution: | Regulation S
|
| Price talk: | Gilts plus low-100 bps area
|
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