KDB bond rides the back of latest Fed cut

In a pattern becoming increasingly familiar with international bond offerings from Asia in recent weeks, the Korean Development Bank has managed to achieve the lowest outstanding coupon for a borrower of its nationality. Taking full advantage of the10 interest rate cuts seen so far this year and Treasury yields at 40 year lows, the Baa2/BBB-rated bank priced a $500 million five-year SEC-registered global bond offering in New York last night (Thursday) with a semi-annual coupon of 5.25%.