KDB secures new record

Policy bank becomes first Korean credit since the financial crisis to break through 60bp over Libor.

KDB priced its first benchmark dollar deal of the year during New York's afternoon on Tuesday, benefiting from a strong market tone for Korean paper. The A3A- rated group completed an upsized $850 million five-year bond, after going out with a base deal size of $500 million. However, officials had always said they was looking to raise between $700 million and $1 billion.

The final offer size was determined by where KDB felt it could best optimize...

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