IBK mandates dollar bond

Credit Suisse First Boston and Merrill Lynch win the mandate for a $300 million to $500 million issue.

The two banks are said to have won joint books for the deal late last week and are preparing to launch roadshows for a three to five-year transaction during the week beginning June 10. The 82.3% government-owned policy bank has not yet made a final decision over the exact maturity of the deal, but is said to be leaning towards a three-year offering.

The deal marks a welcome return for a credit, which has long promised to become an active international issuer, but has yet to deliver. To date, it has completed two transactions a $200 million four-year issue launched in September 1997 only weeks before the Asian financial crisis began to severely impact Korea...

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