Kookmin’s latest bond offers value

The Korean bank’s latest dollar bond offers attractive returns when compared to existing comparables but only if pricing doesn’t tighten excessively.

Kookmin’s latest bond offers value

Kookmin Bank is marketing a dollar-denominated senior unsecured bond maturing in three years, offering bondholders attractive value as US investors return from Friday's Independence Day break.

According to a term sheet seen by FinanceAsia on Monday, Korea’s largest bank by assets is selling its new 144AReg S-registered notes at Treasury plus a spread of around 85bp. With the US Treasury three-year bond trading at a yield of approximately 0.98%, this works out to...

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