Korea Development Bank Said to Plan Benchmark Dollar Bond Sale
The Korea Development Bank hired banks to help it with a benchmark-sized sale of 5.5-year U.S. dollar bonds, according to a person familiar with the matter.
The fixed-rate, senior, unsecured notes are being marketed at a spread of about 295 basis points over Treasuries and may be sold as early as today, the person said, asking not to be identified as details are private.
BNP Paribas SA, Citigroup Inc., Deutsche Bank AG, HSBC Holdings Plc (HSBA), JPMorgan Chase & Co., Korea Development Bank Asia and Royal Bank of Scotland Group Plc will manage the sale, the person said. Benchmark typically means at least $500 million.
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