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LENDING & CREDIT | Staff Reporter, Korea

Korea Development Bank issues $1.5b bonds to foreign investors

The lender said it floated the bonds at the lowest interest rates ever.

State-run Korea Development Bank (KDB) has issued $1.5b worth of bonds to foreign investors, reports Yonhap, based on an announcement by the bank.

The lender sold 10-year bonds worth $300m, and $500m worth of bonds that will mature in five years and six months.

KDB has also issued $700m worth of green bonds that will come due in three and a half years. Proceeds for this bond will be used to finance Green New Deal projects such as rechargeable batteries and renewable energy.

KDB added that it has floated the bonds at the lowest interest rates ever.

The bond sale reportedly drew bids 3.1 times the proposed amount.

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