Industrial Bank of Korea expected to price $200 million 10-year notes this week

By Reshmi Basu

New York, June 7 - Industrial Bank of Korea is expected to price $200 million of 10-year notes (Baa1/BBB) early this week, according to a market source.

The lower tier two notes are non-callable for five years.

The bond will pay an initial coupon until January 2010. Then there will be a 150% step up until the notes mature in January 2015.

Deutsche Bank Securities and UBS Securities are running the books for the Regulation S bond offering.

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