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Industrial Bank of Korea Said to Sign Loan With Two Banks

Industrial Bank of Korea (024110) signed a $50 million loan with Australia & New Zealand Banking Group Ltd. and Standard Chartered Plc, said a person familiar with the matter.

ANZ committed $20 million and Standard Chartered is lending $30 million, said the person, who asked not to be identified because the details are private.

The loan pays an all-in, which includes margins and fees, of about 150 basis points over the London interbank offered rate and is being borrowed by the bank’s Tokyo branch, the person said.

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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