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Korea Development Bank Said to Hire HSBC for Sale of Baht Bonds

Oct. 4 (Bloomberg) -- Korea Development Bank, the state-run lender known as KDB, hired HSBC Holdings Plc to help arrange a sale of baht-denominated bonds, according to a person familiar with the matter.

KDB, based in Seoul, is preparing to issue its first notes denominated in the Thai currency by year-end, said the person, who asked not to be identified before a final decision is made. Any sale will depend on market conditions, said the person.

Thailand’s finance ministry in August said it’s allowing three South Korean finance institutions to sell baht bonds by year-end. Industrial Bank of Korea and Korea Development Bank will each be allowed to sell 5 billion baht ($166 million) of bonds, and Korea Water Resources Corp. can sell 4 billion baht of bonds, the ministry said in a statement at the time.

To contact the reporter on this story: Jungmin Hong in Seoul at jhong47@bloomberg.net

To contact the editor responsible for this story: Will McSheehy at wmcsheehy@bloomberg.net

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