KFB re-prices curve

The Newbridge-controlled bank completes one of the most successful Korean bond deals in recent memory.

Korea First Bank KFB priced an increased $300 million hybrid tier 1 deal well through expectations during New York's afternoon on Wednesday. For the Newbridge-controlled bank, it must have been a particularly satisfying result after a fairly miserable 2003 when unlucky timing conspired against both of its previous two subordinated debt issues. This time round, benign market conditions allowed KFB's credit ratios to shine through and as fund managers started to re-focus on the bank's fundamentals, its credit curve...

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