KDB raises US$750 mln from dollar bonds

SEOUL, Feb. 4 (Yonhap) -- The state-run Korea Development Bank (KDB) raised
US$750 million by selling dollar-denominated bonds in New York to redeem maturing
debts, the lender said Thursday.
The debts come due in five years and six months and pay an interest rate of 7.5
percent, or 1.55 percentage points over the London Interbank Offered Rate,
according to KDB.
"The funds raised are to be spent to pay back maturing debts," a KDB official said.
The latest debt sales came after the state-owned Industrial Bank of Korea issued
$350 million in dollar-denominated bonds on Monday, becoming the first South
Korean bank to sell dollar bonds this year.
pbr@yna.co.kr
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