KDB tops Kexim (surprise surprise)

KDB''s aggresive pricing strategy enables quasi-sovereign to price inside of Kexim.

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 AAA3 FitchSPMoody'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.

The seven-year deal underlines the KDB's...

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