KDB sells SFr200 million bond

The upsized four-year deal attracts strong demand from local Swiss investors allowing for a yield spread well inside KDB's existing 2013 bonds.

Korea Development Bank priced its first Swiss franc bond in two years when it came to market early yesterday morning with a SFr200 million $194 million four-year security.

The notes pay a fixed-rate coupon of 1.75% and were issued at a price of 100.232 to yield 1.74%. This was equivalent to a spread of 100bp over mid-swaps.

KDB held investor meetings with Switzerland-based accounts on Monday through Wednesday this week together with its joint bookrunners, BNP Paribas and Credit Suisse....

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES