Bloomberg News

Korea’s Busan Bank Markets First Dollar Bond Since 2009

February 14, 2012

(Updates with names of banks managing the deal in the third paragraph.)

Feb. 2 (Bloomberg) -- Busan Bank started marketing a five- year dollar-denominated bond, its first note in the U.S. currency since May 2009, according to Ahn Soo Il, a spokesman for the Korean lender.

The notes are priced to yield about 385 basis points more than similar-maturity Treasuries, two people familiar with the matter said, asking not to be identified as the details are private.

Citigroup Inc., Credit Agricole SA and UBS AG are managing the offering, one of the people said.

The South Korean bank has more than 2.53 trillion won ($2.26 billion) of bonds maturing by the end of 2018, according to data compiled by Bloomberg.

--Editors: Andrew Monahan, Beth Thomas

To contact the reporters on this story: Rachel Evans in Hong Kong at revans43@bloomberg.net; Taejin Park in Seoul at tpark31@bloomberg.net

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


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