IBK to sell dollar bonds worth $300-$500 mln this week

SEOUL, Feb. 1 (Yonhap) -- The state-run Industrial Bank of Korea (IBK) plans to
issue five-year U.S. dollar-denominated bonds worth around US$300-$500 million
this week to provide lending to small and mid-sized companies, the bank said
Monday.

The issuance of the unsecured debts will be the first sales of dollar bonds in
the banking sector this year, said the bank, which specializes in lending to
smaller companies.
"IBK plans to determine interest rate terms depending on market situations," an
IBK official noted.
Global credit appraiser Standard & Poor's granted an A rating on the bonds, the
third-highest investment grade, citing "high likelihood of the South Korean
government supporting IBK, the lender's dominance in the lending sector and
favorable capital adequacy ratio."
pbr@yna.co.kr
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