By Aaron Hochman-Zimmerman
New York, April 8 - The Republic of Korea priced a $3 billion offering of five- and 10-year notes in line with talk at Treasuries plus 400 basis points and Treasuries plus 437.5 bps respectively (A2/A/A+), according to market sources.
The $1.5 billion of five-year bonds priced at 99.512 with a coupon of 5¾%.
The $1.5 billion of 10-year bonds priced at 99.052 with a coupon of 7 1/8%.
Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch and Samsung Capital acted as joint leads for the off-the-shelf deal.
Proceeds will be used for selling and purchasing foreign currencies and for depositing or lending to the Bank of Korea.
Issuer: Republic of Korea
| Issue: | Notes
|
| Amount: | $3 billion
|
| Bookrunners: | Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Samsung Capital
|
| Pricing date: | April 8
|
| Settlement date: | April 16
|
| Distribution: | Off shelf
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 16, 2014
|
| Coupon: | 5¾%
|
| Price: | 98.512
|
| Spread: | Treasuries plus 400 bps
|
| Price talk: | Treasuries plus 400 bps area
|
|
|
| Ten-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 16, 2019
|
| Coupon: | 7 1/8%
|
| Price: | 98.052
|
| Spread: | Treasuries plus 437.5 bps
|
| Price talk: | Treasuries plus 437.5 bps area
|
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