KDB's new strategy

WG Kim discusses why KDB will avoid issuing a 10-year benchmark.

The Korea Development Bank KDB remains Korea's biggest borrower and had a great start to the year with a Eu500 million issue in early February. This deal priced at 30bp over Euribor, some 4bp inside the bank's dollar Libor curve and inside a similar deal by Kexim.

Another measure of success was that KDB's prior five year deal in euros had priced at 62bp over - indicating that it had halved the spread it had...

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