Best Asian sovereign: Korea Development Bank
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Best Asian sovereign: Korea Development Bank

Korea Development Bank has done more than any other Asian borrower to set new benchmarks in the market in the wake of Asia's economic rehabilitation. Despite an increasing number of Asian issuers, many Asian deals have so far been somewhat limp. KDB has been the exception and has kept a consistently high proWle in the markets with a string of successful and innovative deals, many of which set benchmarks that will pave the way for other returning Asian borrowers.


Headline deals from KDB in the past 18 months have included the borrower's euro sector debut that opened up a new market for Korean borrowers. The Wve-year benchmark transaction was roadshowed across Europe and Asia and raised e500 million, breaking the borrower's previous reliance on the dollar and samurai markets for large funding transactions. Although KDB was a regular issuer in the European markets before the Asian crash, issuing in several European currencies, the deal marked an important return to the continent and its new currency.



Other issuers from Asia had already tapped the euro sector, including Hutchison Whampoa, Korea Electric Power (Kepco) and the Philippines, but none of the borrowers have been as successful as KDB.




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