KDB launches $1 billion dual-tranche bond

Depfa Bank to joint manage KDB's seven-year euro-denominated FRN.

The Korea Development Bank KDB has announced its intention to raise $1 billion though a dual-tranche dollar- and euro-denominated floating-rate note, due to price today or tomorrow. The bank has appointed bookrunners UBS, Merrill Lynch, JPMorgan, and ABN AMRO, as well as joint-lead manager Depfa Bank which was approached to add momentum to the deal. Depfa will provide a lead order in the seven-year euro tranche.

Initial guidance for the global SEC-registered bond rated A3A...

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