Korea Development Bank issued A$700 million of five-year bonds in the Australian market.
The dual-tranche offering comprised A$500 million of floating-rate bonds with a coupon of 79 basis points above the bank bill swap rate and A$200 million of fixed-rate bonds with a coupon of 1.5725%.
The deal has a built-in interest rate swap based on the U.S. dollar LIBOR, according to the South Korean policy bank on Aug. 21.
The kangaroo bond issuance follows Korea Development Bank's €500 million offering of green notes with a coupon of 0.019% in July.
