이 기사는 2020년 02월 12일 08:00 thebell 에 표출된 기사입니다.

Korea Development Bank (KDB) has successfully issued $1.5 billion global bonds (SEC Registered).

The state-run lender announced and started marketing its global bond issue in Asian markets on February 10. The offering included dual-tranche with floating rate notes (FRN) with three-year maturity and fixed rate notes (FXD) with five-year maturity.

The initial price guidance was set at 60 basis points over the Libor rate for FRN and 70 basis points over the five-year U.S. Treasury for FXD, respectively.

The lender took orders from investors in Asia, Europe and the U.S. The three-year FRN was priced at a spread of 35 basis points over Libor rate and five-year FXD was priced at 45 basis points over five-year U.S. Treasury, The coupon rate of five-year FXD was set at 1.75 percent with the yield set at 1.815 percent.

The lender sold $750 million of FRN and FXD, respectively. Initially, KDB planned to raise around $1 billion, but increased the amount to $1.5 billion later thanks to strong demand.

The latest issuance marks KDB’s first Korean paper issue in 2020. KDB is one of the major issuers in Korean paper market, which has sold around $3 billion worth Korean paper every year. Last year, the bank sold U.S.-dollar-, euro- and Australian dollar-denominated bonds.

KDB is a quasi-sovereign debt-grade issuer, which has a rating of Aa2 by credit ratings agency Moody’s, AA by Standard and Poor’s (S&P) and AA- by Fitch.

BNP Paribas, Citigroup Global Market Securities, Goldman Sachs, JP Morgan, KDB Asia, UBS acted as joint bookrunners.

(By Pi Hye-rim)