Kookmin brings new FRN to market

Kookmin achieves tightest ever pricing for a Korean commercial bank.

Joint lead managers Bank of America, Barclays Capital and Goldman Sachs priced a new $300 million five-year FRN for Korea's Kookmin Bank on Tuesday night November 28. The deal marks Kookmin's first return to the senior bond markets since June 2003 when it tapped its 4.625% December 2007 bond for $200 million.

Initially marketed to investors at the low to mid 30bp range, guidance was revised to the 30bp level during the roadshows as investor interest grew. The A3A-A rated deal was priced at par on a coupon of 29bp over three-month Libor, the tightest ever for any Korean commercial bank. Fees were said to be 15bp.

...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222