Industrial Bank of Korea raises US$1 bln from abroad

SEOUL, April 17 (Yonhap) -- South Korea's state-run Industrial Bank of Korea
(IBK) said Friday it has sold US$1 billion worth of five-year bonds overseas in
order to finance dollar lending.
The notes carry an interest rate of 7.125 percent, or 5.56 percentage points
higher than five-year U.S. Treasuries, according to IBK.
The lender said the proceeds will be used to service trade financing for local
firms and repay maturing debts.
South Korea's foreign currency liquidity situation has recently improved as local
banks beef up efforts to borrow from overseas and the country's current account
balance returns to the black.
pbr@yna.co.kr
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