KDB raises 30 bln yen by issuing bonds in Japan

SEOUL, Sept. 3 (Yonhap) -- The state-run Korea Development Bank (KDB) said Thursday it has raised 30 billion yen (US$325.5 million) by issuing bonds in Japan to redeem maturing foreign debts.

KDB sold 12.1 billion yen of two-year bonds at an interest rate of 1.9 percentage
points over the London Interbank Offered Rate while issuing three year debts
worth 10.9 billion yen at 2 percentage points higher than the rate.
The remaining 7 billion yen was borrowed at a rate of 2.1 percentage points with
a maturity of five years, KDB said in a statement.
The latest sales mark the first debt financing by a South Korean bond issuer in
the Japanese bond market since it was frozen by the collapse of Lehman Brothers
last September, the lender noted.
The sales were managed by Daiwa Securities SMBC Co., Mizuho Securities Co. and
Nomura Securities Co., KDB said, adding the proceeds will be used to repay
foreign debts and extend foreign currency loans.
pbr@yna.co.kr
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