Korea Development Bank to Sell Short-Term Debt to Fed
Oct. 28 (Bloomberg) -- Korea Development Bank was approved by the Federal Reserve to sell as much as $830 million of commercial paper to the U.S. central bank.
State-run KDB can raise $400 million in the U.S. by selling short-term notes, Sung Joo Yung, a spokesman for the Seoul-based bank, said today by telephone. The bank will roll over an existing $430 million of debt, he said.
Kookmin Bank, South Korea's largest, was also deemed eligible to sell commercial paper to the Fed, spokesman You Jung Youn said by telephone from Seoul. The amount of debt Seoul-based Kookmin will sell hasn't been determined, he said.
http://www.bloomberg.com/apps/news?p...eAU&refer=home
http://www.tickerforum.org/cgi-ticke...www?post=69066
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