The Korea Development Bank (KDB) said on May 27 that it had issued Eurobonds worth $1 billion (1.2 trillion won). 

The Reg S bond was priced at a spread of 90 basis points (bp) over five-year US Treasury, 35bp tighter than the initial pricing guidance. 

The state bank said the five-year bond has a fixed interest of 1.25 percent, offering investors a yield of 1.254 percent. 

KDB, rated Aa2/AA/AA-, hired BNP Paribas, Credit Suisse, ING Securities, KDB Asia, Societe Generale and Standard Chartered to arrange the deal. 

KDB raised $500 million in a three-year floating rate bond last month, reopening the international debt market for other South Korean issuers after a break of one month due to rising uncertainties caused by the coronavirus pandemic. (Reporting by Hye-rim Pi)