KDB issues bonds worth US$1 bln

SEOUL, Oct. 28 (Yonhap) -- The state-run Korea Development Bank (KDB) said Friday it has raised US$1 billion by selling bonds overseas in order to repay maturing foreign debts.
The bonds, issued as of Oct. 27, will come due in five and a half years with an interest rate of 3.967 percent, or 2.8 percentage points more than yields on five-year U.S. Treasury bonds, the KDB said in a statement.
The debt sale was arranged by BoA Merrill Lynch, Credit Suisse and four others.
The proceeds from the debt sale will be used to repay maturing debts, it said.
Early this month, the KDB issued Samurai bonds worth 53.7 billion Japanese yen ($700 million), the first for a South Korean lender, in a bid to secure liquidity.
Samurai bonds are yen-denominated debts sold in Japan by non-Japanese issuers.