Banking News

South Korea charges ahead on global bonds

South Korea charges ahead on global bonds

(South Korea) Joining the growing list of debt seals in South Korea, Korean Development Bank will offer US$1 billion in global bonds in US dollar and euro denominations, according to a report by Dow Jones. Barclays Capital, Credit Suisse First Boston, HSBC and JPMorgan have been appointed by the government-owned policy bank to manage the bond offering, which is expected to be priced next week.

The smallest of Korea’s commercial banks, Korea First Bank, is also planning on pricing US$200 million in upper Tier 2 subordinated notes over the next week.

Together, banks and companies in South Korea sold more than $2 billion in dollar-denominated bonds last month. This followed the South Korean government’s $1 billion global bond the previous month.

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