South Korea’s Kia sets talk for dollar notes due in five, 10 years

By Christine Van Dusen

Atlanta, April 14 – Kia Motors Corp. set talk for a two-tranche offering of benchmark-sized and dollar-denominated notes due in five and 10 years (expected ratings: Baa1/A-), a market source said.

The five-year notes were talked at a spread of Treasuries plus 145 basis points to 150 bps.

The 10-year notes were talked in the Treasuries plus 155 bps area.

BofA Merrill Lynch, Citigroup, HSBC, JPMorgan and Nomura are the bookrunners for the Rule 144A and Regulation S deal.

Kia Motors is an automobile manufacturer based in Seoul.

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