KDB raises $500M from bond sales overseas to repay debts

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KDB raises $500M from bond sales overseas to repay debts

The state-run Korea Development Bank (KDB) said yesterday it has raised $500 million by selling bonds overseas in a bid to repay maturing foreign debts.

The bonds, issued as of June 27, will mature in five years with a coupon rate of 3.5 percent, or 1.85 percent more than yields on five-year U.S. Treasuries, KDB said.

The bonds were floated in the form of a re-open issuance, which refers to selling debts at the current market price and retaining the same maturity and coupon rate with the existing bonds.

KDB raised $750 million in global bonds in February, also with a maturity of five years. Yonhap

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