Korean Banking Giant Enters Swaps

Seoul-based Korea Development Bank recently entered interest rate and cross-currency interest rate swaps on the back of a JPY65 billion (USD587 million) samurai bond.

  • 13 Jun 2004
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Seoul-based Korea Development Bank recently entered interest rate and cross-currency interest rate swaps on the back of a JPY65 billion (USD587 million) samurai bond. A trader at the bank said it converted JPY5.5 billion of the offering into a floating dollar liability and entered an interest rate swap paying fixed yen and receiving floating yen on the remaining JPY1.5 billion. The trader continued that the issue was intended to boost the bank's lending in the foreign currencies for corporate clients. He declined to further comment on the mechanics of the transactions.

The swaps were facilitated internally with several bulge bracket and Japanese houses acting as counterparties, noted the official, declining to name specific firms. He continued that the bank will likely issue additional bonds in the coming few months and may enter foreign exchange swaps to convert them into U.S. dollars.

The recent bond was rated single A by Fitch Ratings, in line with the rating of the government of Korea, which is obliged to maintain the bank's solvency.

  • 13 Jun 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 HSBC 27,039.93 106 7.36%
2 Deutsche Bank 25,125.19 81 6.84%
3 Bank of America Merrill Lynch 23,128.33 61 6.29%
4 BNP Paribas 19,315.94 110 5.26%
5 Credit Agricole CIB 18,706.93 106 5.09%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 JPMorgan 13,488.13 59 8.47%
2 Citi 11,496.21 73 7.22%
3 UBS 11,302.86 45 7.09%
4 Morgan Stanley 10,864.95 59 6.82%
5 Goldman Sachs 10,434.21 54 6.55%