KDB sets benchmark through loan deal

The pricing on the current transaction demonstrates KDB''s ability to set a benchmark, not only for itself but also for other Korean borrowers.

Lead arrangers ABN AMRO, Barclays Capital, Deutsche Bank and Tokyo-Mitsubishi International have launched a $400 million term loan and FRN facility for Korea Development Bank into general syndication, which is scheduled to close on September 11. The deal comprises of three tranches structured as a $200 million one-year Tranche A, a $100 million two-year Tranche B and a $100 million three-year Tranche C transaction.

The facility is priced at a margin over Libor of 10bp, 15bp and 25bp...

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