Korea's Hanaro Telecom to sell up to $250 million bonds via JP Morgan, UBS

By Paul A. Harris

St. Louis, April 4 - South Korea's fixed-line operator, Hanaro Telecom, has mandated JP Morgan and UBS Investment Bank to run the books for up to $250 million of global bonds, according to market sources.

The issuance could come as an add-on to the company's 7% notes due Feb. 1, 2012 (existing ratings Ba2/BB). Those notes priced at 99.32 on Jan. 25 to yield 7 1/8%. JP Morgan and UBS Investment Bank led that $500 million issue.

The offering of new notes is expected to launch in the second quarter of 2005.

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