KDB snaps up $1bn with tight pricing strategy

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By Addison Gong
07 Sep 2016

Korea Development Bank raised $1bn from a dual-tranche offering on Tuesday, achieving one of the narrowest spreads for the country’s issuers since 2008. And by using a pretty aggressive strategy, KDB priced its 10 year at a tighter spread than its three year notes.

A source close to the issuer told GlobalCapital Asia thatthe time had been right to do the deal. “I personally see a high possibility of a September rate hike — higher than the 30% the market thinks — so we wanted to seize the moment before it happens.

“Plus, there’s pent-up demand in ...

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