KDB to sell Samurai bonds

Korea Development Bank plans to tap the Japanese bond market after a record Samurai offering by the Export-Import Bank of Korea.

KDB is planning a sale of yen-denominated bonds as soon as early June.

Banks have been asked to submit proposals to arrange the offering and KDB is expected to choose the underwriters this week, according to the person.

The lender has 72.6 billion yen of Samurai notes maturing in June, according to data compiled by Bloomberg.

Park Chan Ho, Seoul-based KDB’s spokesman, was not available to take two calls to his office Friday seeking comment on the sale plan.

Export-Import Bank of Korea, known as Exim, set a record for a South Korean borrower with 100 billion yen or $1.2 billion of Samurai debt, doubling the sale amount from 50 billion yen planned initially, according to a statement from the lender.

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