IBK surprises market with upsized M$1 billion bond
Industrial Bank of Korea upsizes its M$400 million deal to an unexpected M$1 billion. Meanwhile, Kospo begins a roadshow for its dollar bond and Hyundai Capital shelves its ringgit deal.
Last week, Industrial Bank of Korea IBK succeeded in pricing M$600 million $188 million worth of bonds, after an initial M$400 million deal was upsized to M$550 million, with a further M$50 million of orders coming through after a reverse enquiry from one investor.
But yesterday, IBK sold another M$400 million $125 million of bonds following reverse enquiries from another three investors, bringing the total size to M$1 billion, or $313 million.
The deal, which started out as a rather...
To continue reading, please login or register for free