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
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Mar 2017
1 Bank of America Merrill Lynch 10,650.87 23 11.13%
2 Deutsche Bank 8,169.49 17 8.53%
3 HSBC 6,243.46 23 6.52%
4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 JPMorgan 5,440.56 17 10.74%
2 Deutsche Bank 4,468.97 23 8.82%
3 UBS 3,742.72 17 7.39%
4 Citi 3,393.89 23 6.70%
5 Goldman Sachs 3,360.93 18 6.63%