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GC Asia
IBK takes barrage of criticism for pricing of new $350m five year Eurobond paper
Industrial Bank of Korea’s (IBK) new $350m five year Eurobond was hit by widespread criticism this week for having been priced wider than expected.
The A3/BBB+ bank's problems are clear evidence that regional investor enthusiasm for tightly priced sovereign related bank debt is not inexhaustible.
IBK's experience is worrying for Kookmin Bank, which is planning to launch a $300m five year Reg S deal next week. The two banks are both rated
A3/BBB+, meaning
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