The Luxembourg Stock Exchange (LuxSE) has announced the return of the Korea Development Bank (KDB) at the exchange with the listing of KDB’s new benchmark $3 billion bond issuance, which was listed via FastLane.
On Friday 16 February 2024, the Korea Development Bank returned to LuxSE for the first time since 2004 with its latest bond offering. This listing highlights the growing synergy between the capital market communities in South Korea and Europe, fostering international financial collaboration.
The dual-tranche bond offering, totalling $3 billion, comprises a $1.75 billion tranche with a three-year maturity and a $1.25 billion bond with a five-year maturity.
“We are thrilled to welcome KDB back to LuxSE, the global leading venue for international bonds, and we are confident this sets the path for other Korean issuers to follow. KDB's use of our FastLane service illustrates our ambition to better connect international capital markets through simpler and faster processing, and further diversify the investment opportunities available to European investors,” said Arnaud Delestienne, Director of International Capital Markets and Member of the Executive Committee at LuxSE.
According to LuxSE, Korea Development Bank is a state-owned policy bank which has played a crucial role in the development of South Korea’s economy, industries, infrastructure and financial system for the last 70 years. Based in Seoul, it runs overseas operations in nineteen different countries.
“KDB is delighted to announce the listing of our latest Global Bond on the Luxembourg Stock Exchange. Selecting the Luxembourg Stock Exchange as our partner for our SSA-style bond issuance strategy aims to accommodate our growing global SSA investor base,” said Dong Bin JOO, CFO and Executive Director of the Financial Management Division of KDB.
With this move, KDB becomes the latest sovereign, sub-sovereign and agency (SSA) issuer to join LuxSE as an active issuer. Its return to LuxSE underlines KDB’s commitment to expanding its investor base and fostering greater connectivity between South Korea's financial sector and the international investor community, LuxSE noted.
The bond was listed via FastLane, which is LuxSE’s simplified and expedited listing process tailored to non-European SSA issuers. LuxSE is a world-leading listing venue for international debt instruments and has a leading global market share in the SSA issuer segment, currently facilitating access to market financing for 112 sovereign and sub-sovereign issuers around the world. LuxSE developed FastLane to offer an even shorter time to market for SSA issuers.
