Korea Ocean Business Corp (KOBC) has tapped international bond investors to raise $600m to help finance South Korea’s ambitious fleet expansion plans.

The three and five-year bonds, which are due to start trading on the Singapore Exchange from Friday, carry coupons of 5.375% and 5.25%, respectively.

KOBC issued its first foreign currency-denominated bonds on the SGX last year when it raised about $380m from two five-year bonds — one for $80m carried a floating rate while the second, worth $300m, had a coupon of 4.5%.