KDB set to float Hong Kong dollar, yuan bonds next week

SEOUL, Jan, 12 (Yonhap) — The state-run Korea Development Bank (KDB) said Thursday it plans to issue a series of bonds denominated in the Hong Kong and Chinese currencies next week to raise necessary funds.

The KDB is scheduled to sell on-year bonds worth 460 million Hong Kong dollars, or some 70 billion won (US$56.3 million), on Wednesday, which will carry a fixed interest rate of 4.6 percent.

The state lender is also slated to issue bonds worth 607 million yuan, or some 120 billion won, the same day. The bonds will mature in one year and carry a coupon rate of 2.77 percent.

The KDB said Credit Agricole of France will manage both debt sales.

The state bank further said it will sell one-year bonds worth 500 million yuan on Tuesday and 500 million yuan in three-year bonds two days later.

Those debt sales will be managed by Mizuho Securities and Nomura Securities of Japan, respectively, the KDB added.

Source: Yonhap News Agency

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