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Korea Development Bank raises A$700M in Australian bond market

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.