KorAm completes kimchi debt deal

The $160 million ten non-call five upper tier 2 deal, for which details were announced yesterday (Monday), has proved to be one of the most unusual debt transactions to emerge from Korea in recent years. With Salomon Smith Barney as lead manager, pricing was actually finalised on November 22, but a deal was not formally signed until last Friday because of the sudden inclusion and equally sudden withdrawal of Barclays Capital as a joint-bookrunner.