Industrial Bank of Korea raises $200 million syndicated loan

Industrial Bank of Korea has raised $200 million via a syndicated loan.

Industrial Bank of Korea IBK has raised $200 million via a syndicated loan arranged by five banks. The loan comprised two equal tranches with the two-year facility priced at 77.5 basis points bp over six-month Libor inclusive of fees and the three-year facility at a 82.5 bp premium. The facility was oversubscribed by 153% from the 26 banks involved in the syndication process.

The five banks that arranged the loan are Citicorp, Deutsche Bank, Dresdner Kleinwort Benson, Standard Chartered Bank and Tokyo-Mitsubishi.

IBK is the top lender to small and medium enterprises in Korea and is 97% owned by the Korean government. Over the last two years the Korean government has injected W1.9 trillion...

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