Korea Ocean Business Corp (KOBC) has issued $600m of bonds to finance the state’s ambition to increase the domestic container shipping fleet to 2m teu by 2030.
Sold to local and overseas investors on Thursday, the issue was of three- and five-year maturity fixed-rate bonds, with each tranche worth $300m. Compared with US Treasury bonds of the same maturity, the KOBC bonds offer an interest rate 60 basis points higher for …
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