KDB raises Euro 200 million

Taps existing Euro 500 million issuance.

Investor demand for Korea Development Bank’s issuance was over Euro 300 million. One investor said KDB chose to cut back accounts and print a smaller deal to leave room for the bonds to perform in secondary markets.

Some 40 investors across Europe, Asia and the Middle East took part in the deal. German, Austrian and French investors each took 29.5 %. UK and Swiss accounts bought 14% each while Asian investors took 7%.

Analysts said transaction has again proven KDB’s capability to re-open the market for other Korean issuers KDB is the biggest policy bank in Korea. Its role is to finance and manage major industrial projects to expedite industrial development and enhance the national economy. It is Korea’s top arranger in Asia-Pacific project finance market and a leader in the domestic capital market.