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Korean banks put bonds on the table

Korean banks put bonds on the table

(South Korea) Korea First Bank has put off plans to sell US$200 million worth of ten-year bonds because of a lack of investor interest. A source from the bank told Reuters that the postponement of the sale was down to a combination of reasons including market conditions and an oversupply in the market.

Deutsche Bank and UBS are joint managers on the deal.

This hasn’t deterred the state-run Korean Development Bank, however, which is due to sell a US$1 billion bond issue, denominated in dollars and euros, sometime this week.

The bank is currently touting its wares in a roadshow that is travelling through Singapore, the US and Europe.

Credit Suisse First Boston and JPMorgan are tipped to manage the dollar bond offering with HSBC and Barclays looking after the euro part.

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