IBK sacrifices size for pricing on dollar bond return
Industrial Bank of Korea raised $350m in the international bond market on Monday, settling for a size near the bottom of its target range to close a deal at aggressively tight pricing.
Deutsche Bank, Goldman Sachs and HSBC arranged the 5.5 year bond, which priced at a spread of 205bp over Treasuries at the tight end of guidance set between 205-210bp over Treasuries.
The leads approached investors on Monday morning with whispers of the low 200s for a deal set
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