Published on 5/12/2015 in the Prospect News Emerging Markets Daily.
New Issue: Korea Development Bank prices $500 million 2¼% notes due 2020 at 72.5 bps spread
By Christine Van Dusen
Atlanta, May 12 – Korea Development Bank priced $500 million 2¼% five-year notes (Aa3/A+/AA-) at 99.836 to yield 2.285%, or Treasuries plus 72.5 basis points, a market source said.
The notes were talked at a spread in the low-80 bps area.
Barclays, Citigroup, Credit Suisse, Goldman Sachs, HSBC, KDB Asia and Societe Generale were the bookrunners for the Securities and Exchange Commission-registered deal.
| Issuer: | Korea Development Bank
|
| Amount: | $500 million
|
| Maturity: | May 18, 2020
|
| Description: | Notes
|
| Bookrunners: | Barclays, Citigroup, Credit Suisse, Goldman Sachs, HSBC, KDB Asia, Societe Generale
|
| Coupon: | 2¼%
|
| Price: | 99.836
|
| Yield: | 2.285%
|
| Spread: | Treasuries plus 72.5 bps
|
| Trade date: | May 11
|
| Settlement date: | May 18
|
| Expected ratings: | Moody’s: Aa3
|
| Standard & Poor’s: A+
|
| Fitch: AA-
|
| Distribution: | Securities and Exchange Commission registered
|
| Price talk: | Treasuries plus low-80 bps area
|
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