Published on 9/16/2004 in the Prospect News Emerging Markets Daily.
New Issue: Korea sells oversubscribed $1 billion 10-year global bonds to yield T+85 bps
By Reshmi Basu
New York, Sept. 16 - The Republic of Korea priced $1 billion global bonds at 99.29 to yield Treasuries plus 85 basis points, according to a market source.
The deal came to market two basis points tighter than initial price guidance of 87 basis points.
One source said the book size for the deal was around $3 billion.
Barclays Capital, Citigroup, Deutsche Bank and JP Morgan were lead managers for the Securities and Exchange Commission-registered global bond offering.
Issuer: | The Republic of Korea
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Amount: | $1 billion
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Issue: | Global bonds
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Maturity: | Sept. 22, 2014
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Coupon: | 4.875%
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Issue price: | 99.29
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Yield: | 4.966%
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Spread: | 85 basis points
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Pricing date: | Sept. 16
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Settlement date: | Sept. 22
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Lead managers: | Barclays Capital, Citigroup, Deutsche Bank, JP Morgan
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Ratings: | Moody's: A3
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| Standard & Poor's: A-
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| Fitch: A
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