Bank Offers Help With Bonds
The government will help some companies issue foreign currency bonds if they encounter difficulties in foreign bond markets.The Korea Development Bank said Sunday that it would buy $100 million worth of bonds denominated in foreign currencies this month to meet the hard currency demands of companies that are unable to issue their own securities overseas. Interest rates, based on the firms' credit ratings and the London Interbank Offered Rate, are expected to be a bit lower than if the bonds were issued abroad.
Companies are not prohibited from issuing foreign currency-denominated bonds in Korea, but none have yet done so.
with the Korea JoongAng Daily
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