KDB launches roadshows

The proxy sovereign borrower sets out with high hopes and ambitious pricing for its first global bond in two-and-a-half years.

Under the lead management of Barclays and Salomon Smith Barney, investor presentations begin today Monday for pricing on Thursday. There will be two teams, with one covering Hong Kong, Singapore, London and New York and the other moving from the American West to East coast.

The Baa2BBB-rated borrower is hoping to raise $500 million from an SEC registered global bond offering. The deal will mark the first time KDB has come to the public dollar markets since April 1999 and only the second time since the beginning of the Asian financial crisis.

Indeed, investors have been almost completely starved of paper from the Republic's three quasi-sovereign borrowers over the past few years, with...

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