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Korea Development Bank issues US$1B of bonds

Korea Development Bank completed a US$1 billion global bond offering with dual tranches March 6.

The issue comprised US$500 million three-year floating-rate notes priced at 55 basis points above three-month LIBOR and US$500 million five-year fixed-rate bonds priced at 85 basis points above the U.S. five-year treasury bond yield.

The deal represents a significant improvement in bond pricing from Korea Development Bank's issuance of US$1 billion bonds in September 2017 as a similar floating and fixed-rate combination.

A total of 106 investors from Asia, Europe and the U.S. flocked to Korea Development Bank's latest bond offering with buy orders worth US$1.9 billion.