Post-deal insights: KDB's debut marks a step forward for the Kauri market

On April 7, Korea Development Bank (KDB) (AA-/Aa2/AA-), priced its first-ever Kauri transaction. According to KangaNews data, the deal is the first Kauri issued without a triple-A rating since Telstra Corporation printed NZ$100 million (US$67.7 million) of fixed-rate notes in May 2010. KDB and its leads are cautiously optimistic about the prospects for further Kauri issuance diversity in future.