KDB plans to issue US$300 mln in yen bonds

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SEOUL, Aug. 20 (Yonhap) -- The state-run Korea Development Bank (KDB) said
Thursday it plans to raise about US$300 million by selling yen-denominated bonds
in Japan next month to redeem maturing foreign debts.

Details of the samurai bond issue, including interest and maturity, have yet to
be decided, KDB said, adding several investment banks have applied to arrange the
deal, with a lead manager to be picked soon.
Samurai bonds are yen-denominated bonds floated in Japan by non-Japanese issuers.
The planned bond issue would mark KDB's second foreign debt sale this year since
the lender sold $2 billion in dollar-denominated bonds in January.
Sales of samurai bonds by local lenders have been frozen since the collapse of
Lehman Brothers in September last year sharply raised risk aversion among
Japanese investors.
"The focus is on how much investors will be interested in the debts," a KDB
official said. "Given time needed for preparation, the bonds may go on sale next
month."
pbr@yna.co.kr
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