Bloomberg News

Industrial Bank of Korea Said to Sign Loan With Two Banks

December 07, 2011

Dec. 7 (Bloomberg) -- Industrial Bank of Korea signed a $50 million loan with Australia & New Zealand Banking Group Ltd. and Standard Chartered Plc, said a person familiar with the matter.

ANZ committed $20 million and Standard Chartered is lending $30 million, said the person, who asked not to be identified because the details are private.

The loan pays an all-in, which includes margins and fees, of about 150 basis points over the London interbank offered rate and is being borrowed by the bank’s Tokyo branch, the person said.

--Editor: Pavel Alpeyev

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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