Korea plans to price one or more series of notes in dollars, euros

By Rebecca Melvin

New York, Sept. 9 – The Republic of Korea will issue one or more series of senior notes to be denominated in euros or U.S. dollars, with the euro five-year notes launching on Wednesday at €700 million in size and at pricing guided to mid-swaps plus 35 basis points, according to a filing with the Securities and Exchange Commission and a market source.

BNP Paribas, BofA Securities, Citigroup, JPMorgan and Mirae Asset Daewoo are joint bookrunners of the SEC-registered deal.

The proceeds of the notes will be used by the sovereign to sell and buy foreign currencies, lend, guarantee debt, and make temporary payments of foreign currency debt.

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