Industrial Bank of Korea raises $200 million syndicated loan

Industrial Bank of Korea (IBK) has raised $200 million via a syndicated loan arranged by five banks. The loan comprised two equal tranches with the two-year facility priced at 77.5 basis points (bp) over six-month Libor inclusive of fees and the three-year facility at a 82.5 bp premium. The facility was oversubscribed by 153% from the 26 banks involved in the syndication process.