KDB readies benchmark dollar bond

Korean policy bank will assess market landscape before launching proposed five-year benchmark deal.

Joint leads HSBC, JPMorgan and Merrill Lynch will begin roadshows later this week for Korea Development Bank's dollar denominated benchmark bond. The deal will be shopped to investors at a showcase in New York on Wednesday.

The leads have handled the transaction with inherent care since being awarded the mandate two weeks ago. As record oil prices rock global markets in the wake of Hurricane Katrina and with the uncertainty surrounding the Indonesian economy, the A3A- quasi-sovereign has taken a cautious posture in finalizing terms and timing of its benchmark deal.

The policy bank is watching to see how the markets move at the...

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