KB Kookmin Bank Issues $600 Million Senior Global Bonds

KB Kookmin Bank announced on the 30th that it has issued $600 million worth of senior global bonds.

The global bonds issued this time were structured as dual-tranche bonds, consisting of $300 million with a 3-year maturity and $300 million with a 5-year maturity. The interest rates were fixed at 5.409% and 5.298%, respectively, which include a spread of 60bp (1bp=0.01 percentage point) and 65bp over the corresponding US Treasury yields.

According to Kookmin Bank, more than 150 institutions participated, securing orders exceeding $2.8 billion, about five times the total issuance amount of $600 million. The spread was reduced by 25bp for the 3-year tranche and 30bp for the 5-year tranche compared to the initially offered rates.

In particular, to expand the base of new investors this month, the bank held investor meetings for the first time in Dubai and Abu Dhabi in the Middle East, and also made efforts to attract investors through face-to-face meetings in Taiwan, where there had been no recent visits, the bank stated.

A KB Kookmin Bank official said, "Despite geopolitical risks and uncertainties regarding the direction of monetary policy, successful issuance was possible based on strong demand from global investors," adding, "We have solidified our position through consecutive global public bond issuances."