IBK sacrifices size for pricing on dollar bond return

01 Feb 2010

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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