Ninja defeats Samurai: IBK saves on ¥21bn financing
Industrial Bank of Korea will close a ¥21bn ($258.7m) syndicated loan on Tuesday, becoming the first Korean borrower to sign a deal with commitments from entirely Japanese lenders. The borrower took the funding option as an alternative to a Samurai bond issue — and wants to increasingly turn to loans bankers for funding this year.
The policy bank will sign a loan split between a ¥16bn two year tranche, paying an all-in of 110bp over yen Libor at the top-level, and a ¥5bn one year loan, offering lenders an all-in of 100bp.It is the first ninja loan from a Korean borrower, receiving ...
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