KDB bond rides the back of latest Fed cut

The Korean policy bank has secured the lowest coupon in the Korean credit universe.

In a pattern becoming increasingly familiar with international bond offerings from Asia in recent weeks, the Korean Development Bank has managed to achieve the lowest outstanding coupon for a borrower of its nationality. Taking full advantage of the10 interest rate cuts seen so far this year and Treasury yields at 40 year lows, the Baa2BBB-rated bank priced a $500 million five-year SEC-registered global bond offering in New York last night Thursday with a semi-annual coupon of...

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