Kookmin prices $500 million three-year dollar bond

Korea’s largest bank by both asset value and market capitalisation has launched the pricing of a three-year floating rate note.

Kookmin Bank has priced a $500 million three-year floating rate note, following in the footsteps of Kexim, a South Korean policy bank, which issued one last month.

The note which was six-times oversubscribed from 150 accounts had an initial price guidance of about 140bp above the three-month US dollar Libor but priced competitively inside its existing curve at 125bp, indicating strong demand for these rare notes.

The bond was being compared to...

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