KDB tightly prices $1.5bn bond amid soft sentiment

State-owned Korean policy bank raised a tightly priced dual-tranche note, riding on the success of Kexim’s deal last week and defying weaker market sentiment.

KDB tightly prices $1.5bn bond amid soft sentiment

Korean Development Bank KDB sold a $1.5 billion dual-tranche bond on Monday, replicating the structure of Export-Import Bank of Korea’s Kexim note issued last week.

The deal received an order book of more than $9 billion from more than 400 accounts, highlighting the appeal of Korean paper, not only from Asian investors but globally, say sources close to the transaction.

US investors accounted for 40% of KDB’s floating rate note FRN...

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