Deutsche prices new KDB floater
With the market looking to Korea to establish a rhythym of issuance following the summer hiatus, KDB emerges first with a $300 million eurobond off of its EMTN programme.
On a big night for Deutsche Bank, it has priced a sole led $300 million five-year FRN for Korea Development Bank KDB. The A3AA deal, issued off of KDBÆs EMTN program, priced at par with a coupon of 20bp over three-month dollar Libor.
The transaction was driven by reverse enquiry and was fully covered with 14 investors from Europe and Asia taking part. The rationale for the issuer was to avoid leaning into what is a...
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