KDB follows dollars with euros

The policy bank takes advantage of the momentum generated by a dollar trade to issue a companion bond in euros.

Global co-ordinator Credit Suisse First Boston and joint bookrunners Barclays, HSBC and JPMorgan priced an Eu500 million five year issue for the Korea Development Bank KDB yesterday Thursday.

Pricing came inside guidance and the deal was completed at an issue price of 99.791% on a coupon of 4.375% to yield 4.4225% or 52bp over euribor. It had been marketed on a 65bp to 75bp range, itself a much tighter level than the 90bp to 95bp indicative...

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