New York, Sept. 24 – Korea Development Bank priced $1 billion in two tranches of fixed- and floating-rate notes (Aa2/AA/AA-) on Monday, according to an FWP filing with the Securities and Exchange Commission.
The deal included $500 million three-year floating-rate notes that priced at par to yield Libor plus 47.5 basis points.
And $500 million of 2 1/8% five-year fixed-rate notes priced at 99.826.
BofA Securities, Inc., Credit Suisse (Hong Kong) Ltd., Hongkong and Shanghai Banking Corp. Ltd., KDB Asia Ltd., Mizuho Securities USA LLC and Standard Chartered Bank were joint bookrunners and lead managers for the offering.
The proceeds will be used for repayment of maturing debt and other obligations.
The lender is based in Seoul, South Korea.
| Issuer: | Korea Development Bank
|
| Amount: | $1 billion
|
| Bookrunners: | BofA Securities, Inc., Credit Suisse (Hong Kong) Ltd., Hongkong and Shanghai Banking Corp. Ltd., KDB Asia Ltd., Mizuho Securities USA LLC and Standard Chartered Bank
|
| Co-manager: | Kexim Asia Ltd.
|
| Pricing date: | Sept. 23
|
| Settlement date: | Oct. 1
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Floaters due 2022
|
| Amount: | $500 million
|
| Maturity: | Oct. 1, 2022
|
| Description: | Floating-rate notes
|
| Coupon: | Libor plus 47.5 bps
|
| Price: | Par
|
| Yield: | Libor plus 47.5 bps
|
|
|
| Notes due 2024
|
| Amount: | $500 million
|
| Maturity: | Oct. 1, 2024
|
| Description: | Fixed-rate notes
|
| Coupon: | 2 1/8%
|
| Price: | 99.826
|
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