Published on 7/22/2013 in the Prospect News Emerging Markets Daily.
New Issue: Korea Gas sells $500 million 2 7/8% notes due 2018 at 168 bps spread
By Christine Van Dusen
Atlanta, July 22 - Korea Gas Corp. priced a $500 million issue of 2 7/8% notes due July 29, 2018 (A1/A+/) at 99.479 to yield 2.988%, or Treasuries plus 168 basis points, a market source said.
Korea Development Bank, BofA Merrill Lynch, Credit Suisse, Deutsche Bank, Goldman Sachs and HSBC were the bookrunners for the deal.
Korea Gas is a public natural gas company incorporated by the Korean government.
Issuer: | Korea Gas Corp.
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Amount: | $500 million
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Maturity: | July 29, 2018
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Description: | Notes
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Bookrunners: | Korea Development Bank, BofA Merrill Lynch, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC
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Coupon: | 2 7/8%
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Price: | 99.479
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Yield: | 2.988%
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Spread: | Treasuries plus 168 bps
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Trade date: | July 22
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Settlement date: | July 29
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Ratings: | Moody's: A1
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| Standard & Poor's: A+
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