In another deal from an Asian borrower that was heavily driven by Asia, Industrial Bank of Korea IBK priced an upsized deal that was two times oversubscribed.
The deal was a $400 million reg S transaction with a five year maturity.
The deal followed the Republic of Korea's deal last week and priced at T136bp, equating to a coupon of 3.5%. The Republic priced at T92. IBK is very conscious of building a long term relationship with investors, says Young il Chun, head of international finance at IBK.
IBK had gone out with price guidance of 135-140bp and conducted one on one conference calls with investors....
