KDB launches 2016 funding with a bang

Traditional New Year policy bank deal achieves warm reception as market shrugs off North Korean nuclear bomb test.
People watch the hydrogen bomb test
People watch the hydrogen bomb test

Asian debt capital markets normally kick off the year with a benchmark offering from one of Korea's two main policy banks and 2016 has proved no exception with a $1.5 billion dual tranche offering from the Korea Development Bank KDB on Wednesday.

The transaction was launched into the market just as the North Korean government announced a national epoch making event following the purported denotation of a miniaturised hydrogen bomb.

In 2006 the country's first nuclear test had a damaging impact on financial markets but reaction to the latest move was muted and syndicate banks said demand for KDB's bond was completely unaffected.

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