Korea Development Bank (KDB) early this morning priced its $1 billion five-and-a-half-year bond at Treasuries plus 280bp. The leads — Bank of America Merrill Lynch, Credit Suisse, Daiwa, Goldman Sachs, KDB Asia and Mizuho — went out with guidance in the area of Treasuries plus 300bp on Thursday morning and revised that to Treasuries plus 280bp to 290bp, with the bonds eventually pricing at the tight end.
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