KDB back for more dim sum with $203m bond

Korea Development Bank's second three-year deal is priced with a coupon rate of 4.2%, in line with initial guidance. UOB, meanwhile, is poised to follow DBS with a covered bond.

Korea Development Bank jumped back into the dim sum bond market on Tuesday, raising another Rmb1.3 billion $203.4 million by issuing its second three-year renminbi-denoninated bond in three months.

KDB, rated Aa3AA-, priced the deal to yield 4.2% after receiving a positive feedback from Asian investors, according to a source familiar with the matter, who declined to comment on the size of the order book. The final pricing was unchanged from initial guidance, based on a term sheet seen by FinanceAsia

Foreign sovereign and quasi-sovereign issuers like the KDB and government of Mongolia are increasingly tapping the...

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