Saneun Issues $2 Billion Global Bond
[Asia Economy Reporter Bu Aeri] The Korea Development Bank announced on the 1st that it has issued a $2 billion (approximately 2.704 trillion KRW) global bond.
The bond consists of a multi-tranche structure with a 3-year maturity $1 billion tranche, a 5-year maturity €500 million tranche, and a $450 million tranche, all fixed-rate bonds.
The bank explained that despite increased financial market volatility following the Jackson Hole meeting and the strengthened outlook for aggressive US interest rate hikes, it confirmed strong interest from global investors.
In particular, for the dollar-denominated bonds, 36% of investors were top-tier investors such as central banks and international organizations from various countries.
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A bank official stated, "As a representative policy financial institution, we plan to continuously strengthen the perception of Korean bonds as safe assets and create a favorable issuance environment for Korean institutions."
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