IBK launches rare US$ floater

In the second deal to come from a Korean policy bank in less than a week, Industrial Bank of Korea (IBK) priced a rare floating rate note deal that was more than four times oversubscribed on Wednesday (September 14). The A3/A-/A rated deal, led by CSFB, HSBC and Morgan Stanley was a $500 million reg S transaction with a five-year maturity.