South Korean state-run lender Korea Development Bank (KDB) has raised US$ 750 million by floating U.S. dollar-denominated bonds in overseas markets.
The bonds with a maturity of five years and six months carry an interest rate of 3.581 percent, or 275 basis points above the yield on U.S. treasuries, according to KDB on Wednesday. A basis point is 0.01 percentage point.
The debt sale is part of government efforts to beef up foreign currency liquidity via policy lenders such as Industrial Bank of Korea and the Export-Import Bank of Korea.
KDB said Asian investors accounted for half of the investors, while those from the United States and Europe accounted for 33 percent and 17 percent, respectively.