ID :
21713
Sun, 09/28/2008 - 12:04
Auther :
Shortlink :
http://m.oananews.org//node/21713
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Korea Development Bank borrows US$520 mln from overseas
SEOUL, Sept. 28 (Yonhap) -- South Korea's state-run Korea Development Bank (KDB) said Sunday it has succeeded in borrowing US$520 million from overseas despite the current global credit crunch stemming from U.S. financial turmoil.
Of the total, $200 million has a one-year maturity, with $220 million and $100
million maturing in six months and one month, respectively, said the bank, which
caters mainly to corporate needs for capital spending.
Given the current risk premiums of more than 2 percentage points on South Korean
borrowers, the interest terms of the loan are favorable, KDB said, without
elaborating.
KDB did not disclose how the borrowed money will be used.
Of the total, $200 million has a one-year maturity, with $220 million and $100
million maturing in six months and one month, respectively, said the bank, which
caters mainly to corporate needs for capital spending.
Given the current risk premiums of more than 2 percentage points on South Korean
borrowers, the interest terms of the loan are favorable, KDB said, without
elaborating.
KDB did not disclose how the borrowed money will be used.
