On 20 August, Korea Development Bank (KDB) (AA/Aa2/AA-) launched a multi-tranche Kangaroo benchmark deal, offered in three- and five-year floating-rate and five-year fixed-rate formats. Indicative price guidance for the three-year tranche is 65 basis points area over three-month bank bills, while the five-year tranches are being marketed at 80-82 basis points area over swap benchmarks.