KDB finds size and price in choppy market

seoul korea px230 dollar
By Addison Gong
20 Jun 2018

Korea Development Bank sold a dual-listed offshore renminbi bond on Tuesday amid volatile markets. But it achieved the largest size for a CNH bond issue in more than a month, while also pricing inside one of its peers.

Aa2/AA/AA rated KDB priced its Rmb1.75bn ($270m) three year CNH bond at a yield of 4.6%, following guidance at 4.6%. Bookrunners ANZ and HSBC fixed the reoffer price at par.

KDB’s bond will be listed on both the Taipei Exchange and Singapore Exchange. Capital Securities Corp and Yuanta ...

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