Published on 6/8/2011 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Korea's Kia Motors sells $500 million 3.63% notes due 2016 at Treasuries plus 208 bps
By Christine Van Dusen
Atlanta, June 8 - South Korea's Kia Motors Corp. sold $500 million 3.63% senior notes (Baa2/BBB/) due June 14, 2016 at 99.688 to yield Treasuries plus 208 basis points, a market source said.
Bank of America Merrill Lynch, Citigroup, KDB and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S notes.
Kia Motors is an automobile manufacturer based in Seoul.
| Issuer: | Kia Motors Corp.
|
| Amount: | $500 million
|
| Maturity: | June 14, 2016
|
| Description: | Senior notes
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup, KDB, Morgan Stanley
|
| Coupon: | 3.63%
|
| Price: | 99.688
|
| Spread: | Treasuries plus 208 bps
|
| Trade date: | June 7
|
| Settlement date: | June 14
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Distribution: | Rule 144A and Regulation S
|
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