Korea Development Bank to sell $1.5 billion of notes in two parts

Chicago, Feb. 10 – Korea Development Bank is planning to offer a combined $1.5 billion of floating-rate and fixed-rate notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission on Monday and a market source.

Initial talk on the $750 million tranche of floating-rate notes due 2023 is in the Libor plus 60 basis points area. The deal was launched with talk of Libor plus 35 bps.

The fixed-rate notes due 2025, also expected to be $750 million, has initial price talk in the Treasuries plus 70 bps area. The deal was launched with talk at Treasuries plus 45 bps.

The dollar-denominated notes will come via BNP Paribas, Citigroup Global Markets Inc., Goldman Sachs International, J.P. Morgan Securities LLC, KDB Asia Ltd. and UBS AG Hong Kong Branch as joint bookrunners and lead managers.

Proceeds from the offering will be used for general corporate purposes, including debt repayment.

The lender is based in Seoul, South Korea.

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