KDB issues dollar bonds for Korean corporates

The KDB is helping out Korean corporates with funding problems by arranging, and buying, foreign currency bond issues.

The Korean Development Bank KDB, the state-owned entity focused mainly on providing funding for major industrial projects, has announced it will arrange the issue of foreign currency bonds for domestic corporates struggling to access funds directly.

The first of such deals, and the first dollar-denominated deal launched into the domestic market, will be an $80 million transaction for Hanwha Chemicals. Hanwha, which is rated BBB-, will then convert the proceeds from the transaction into Korean won under a dollar swap deal with the KDB.

Other corporations believed to be lining up deals with KDB include Hyundai Motor Group and the LG Group, although an official at the KDB would...

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