By Reshmi Basu
New York, Jan. 25 - Hanaro Telecom Inc. priced $500 million seven-year global bonds (Ba2/BB) at 99.32 with a 7% coupon to yield 7 1/8%, according to a market source.
The bonds priced tighter than the price guidance of 7¼% to 7½%.
JP Morgan and UBS Investment Bank were joint bookrunners for the Rule 144A/Regulation S offering.
Hanaro Telecom, based in Seoul, is South Korea's largest broadband service provider.
| Issuer: | Hanaro Telecom Inc.
|
| Amount: | $500 million
|
| Issue: | Global
|
| Maturity: | Feb. 1, 2012
|
| Coupon: | 7%
|
| Issue price: | 99.32
|
| Yield: | 7 1/8%
|
| Spread: | 314 basis points
|
| Pricing date: | Jan. 25
|
| Settlement date: | Feb. 1
|
| Bookrunners: | JP Morgan, UBS Investment Bank
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB
|
| Price guidance: | 7¼% to 7½%
|
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