IBK raises 16.7 billion yen via syndicated loan

SEOUL, Sept. 17 (Yonhap) -- South Korea's state-run Industrial Bank of Korea
(IBK) said Thursday it has raised 16.7 billion yen (US$183.5 million) in a
syndicated loan to repay maturing debts.

The one-year loan from 11 Asian lenders carries an interest rate of 1.3
percentage points over the London Interbank Offered Rate for the Japanese
currency, IBK said in a statement.
The lender said it plans to use the money to repay maturing debts and provide
trade finance for small-and-medium-sized local exporters.
pbr@yna.co.kr
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