By Christine Van Dusen
Atlanta, Feb. 22 – Korea Development Bank priced $1.5 billion in three tranches of notes due 2020 and 2022 (Aa2/AA/AA-) in a Securities and Exchange Commission-registered deal.
The deal included $500 million three-year floating-rate notes that priced at par to yield Libor plus 45 basis points.
Also, $500 million five-year floating-rate notes priced at par to yield Libor plus 70.5 bps.
The $500 million 2 5/8% five-year fixed-rate notes priced at 99.489.
ANZ Securities Inc., BofA Merrill Lynch, Citigroup, Commerzbank, Credit Agricole CIB, Credit Suisse and KDB Asia were the bookrunners.
The proceeds will be used for general operations, including extending foreign currency loans and repaying debt.
The lender is based in Seoul, South Korea.
| Issuer: | Korea Development Bank
|
| Amount: | $1.5 billion
|
| Bookrunners: | ANZ Securities Inc., BofA Merrill Lynch, Citigroup, Commerzbank, Credit Agricole CIB, Credit Suisse and KDB Asia
|
| Trade date: | Feb. 21
|
| Settlement date: | Feb. 27
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Floaters due 2020
|
| Amount: | $500 million
|
| Maturity: | Feb. 27, 2020
|
| Description: | Floating-rate notes
|
| Coupon: | Libor plus 45 bps
|
| Price: | Par
|
| Yield: | Libor plus 45 bps
|
|
|
| Floaters due 2022
|
| Amount: | $500 million
|
| Maturity: | Feb. 27, 2022
|
| Description: | Floating-rate notes
|
| Coupon: | Libor plus 70.5 bps
|
| Price: | Par
|
| Yield: | Libor plus 70.5 bps
|
|
|
| Fixed-rate notes due 2022
|
| Amount: | $500 million
|
| Maturity: | Feb. 27, 2022
|
| Description: | Fixed-rate notes
|
| Coupon: | 2 5/8%
|
| Price: | 99.489
|
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