South Korea's KIA Motors pulls benchmark-sized five-year offering

By Aaron Hochman-Zimmerman

New York, June 28 - KIA Motors withdrew its offer of benchmark-sized five-year notes (Baa3/BBB-), according to a market source.

"Pleased be advised that given the current market volatility, KIA Motors has decided to put their

transaction on hold pending more stable market conditions," a KIA Motors official said in a release.

Talk had been set in the area of 90 basis points over mid-swaps.

Credit Suisse, JP Morgan, Korea Development Bank and UBS had the joint books.

The deal was to be sold under Regulation S.

KIA Motors is a Seoul, South Korea-based automobile manufacturer.

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