FINANCE

KDB issues $1.5b in global bonds

By Yonhap
  • Published : Oct 19, 2021 - 13:16
  • Updated : Oct 19, 2021 - 13:16

The state-run Korea Development Bank headquarters in Seoul. (Yonhap)
The state-run Korea Development Bank (KDB) said Tuesday it has successfully issued $1.5 billion worth of bonds to foreign investors.

The lender has sold 10-year bonds worth $300 million and 5 1/2-year bonds worth $500 million.

The KDB has also issued $700 million worth of green bonds that will come due in three years and three months, which will be used to finance Green New Deal projects, such as rechargeable batteries and renewable energy.

The state bank said its has floated those bonds at the lowest rates ever, with bonds with a maturity of three years and three months carrying a spread of minus 7 basis points below the three-month US dollar Libor rate.

Central banks and international organizations account for 42 percent of its debt purchasers, it added.

The KDB said the successful debt sale has reaffirmed global investors' strong confidence in South Korean bonds despite concerns over global inflation and the expansion of emerging nations' debt risk. (Yonhap)