Solid response to KookminÆs $400 million bond

$1.1 billion of demand greets the first international bond offer by a Korean commercial bank in 2007.

Investors have snapped up a $400 million five-year floating-rate note from Kookmin Bank despite a razor thin margin. Indeed, demand was so strong that Kookmin was able to up the size of the deal and raise an extra $100 million.

Kookmin last tapped the offshore bond markets at the end of November with a $300 million five-year floater that priced at 29bp over Libor. At the time, it was the tightest pricing ever for a Korean commercial bank, but WednesdayÆs...

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