KDB tops Kexim (surprise surprise)

In the second deal to come from a Korean quasi-sovereign in little over a week, Korea Development Bank (KDB) priced the country's third floating rate note deal from a policy bank early Wednesday morning (November 16). The A+/A/A3 (Fitch/S&P/Moody's) rated deal, led by Barclays, Credit Suisse First Boston and Morgan Stanley, was a $500 million Reg S transaction with a rare seven-year maturity.