KDB mandates three

The Korea Development Bank (KDB) mandates three banks for a three tranche global bond.

Korea's sometime proxy sovereign borrower is believed to have mandated Barclays Capital, Credit Suisse First Boston and JPMorgan for a $1.05 billion global bond yesterday Thursday. The three won the deal after banks were asked to submit hard underwritten pitches last Wednesday for a $300 million short-dated tranche, $500 million five-year tranche and $250 million 10-year tranche.

Last night, however, it was unclear whether they would be held to their various promises since launch of the deal has been pushed back a week. Initially, observers say KDB intended to embark on a two-day roadshow beginning this Monday, with pricing scheduled for either Wednesday or Thursday. Now, it is said to be looking to...

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