Korea’s Kookmin Bank raises $600 mn in global senior debts

South Korea’s largest bank Kookmin Bank said on Tuesday it has issued $600 million worth of global senior secured bonds.

The debts were oversubscribed nearly four times, attracting about $2.8 billion from more than 150 institutional investors.

The bonds comprise $300 million worth of notes with a three-year maturity and another $300 million with a five-year maturity.

The three-year bonds were sold at 60 basis points higher than their corresponding US Treasury yield, with their five-year notes issued at 65 bps above.

Kookmin Banik’s initially proposed spread was 85 and 95 bps for the three- and five-year bonds, respectively.

Kookmin Bank saw global investors’ strong demand for the bonds despite geopolitical concerns and uncertainties of global currency policies, said a bank official.

In efforts to expand its investor pool, the bank executives met investors in Dubai and Abu Dhabi for the first time and also held a meeting in Taiwan earlier this month.

Write to Bo-Hyung Kim at Kph21c@hankyung.com

Jihyun Kim edited this article.