KDB sells SFr200 million bond

The upsized four-year deal attracts strong demand from local Swiss investors allowing for a yield spread well inside KDB's existing 2013 bonds.

Korea Development Bank priced its first Swiss franc bond in two years when it came to market early yesterday morning with a SFr200 million $194 million four-year security.

The notes pay a fixed-rate coupon of 1.75% and were issued at a price of 100.232 to yield 1.74%. This was equivalent to a spread of 100bp over mid-swaps.

KDB held investor meetings with Switzerland-based accounts on Monday through Wednesday this week together with its joint bookrunners, BNP Paribas and Credit Suisse....

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