KDB poised to re-open 2006 bond

The Korean policy bank aims to make a tap of its recent international dollar bond early next week.

Having originally planned to put bids out to competitive tender today Friday, KDB has decided to mitigate the risk of the market moving over the weekend by holding beauty parades early next week instead.

Six banks are said to have been invited to submit bids for what was originally slated to be a $250 million tap, but may be increased to $500 million subject to demand. The six comprise Barclays Capital, Credit Suisse First Boston, Goldman Sachs, HSBC, JPMorgan and Salomon Smith Barney.

Competition to secure the deal is likely to be intense and given KDB's reputation as a lowly fee payer, it will only take a very small movement...

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