KFB scores first upper tier 2 deal

A slightly scaled back $375 million 10 non call five upper tier 2 deal for Korea First Bank (KFB) was priced last night (Wednesday) by joint leads Lehman and UBS Warburg. The March 2013 transaction callable in 2008 was priced at 98.858% on a coupon of 5.75% to yield 5.785% or 320bp over Treasuries. Fees total 75bp.