By Reshmi Basu
New York, Oct. 26 - The Republic of Korea priced $1 billion equivalent of 10-year euro-denominated bonds and 20-year dollar-denominated bonds (A3/A/A+) Wednesday, according to a market source.
The issue is made up of €500 million of bonds due Nov. 2, 2015 and $400 million of bonds due Nov. 3, 2025.
The 10-year bonds priced at 99.055 to yield mid-swaps plus 25 basis points. The tranche priced on the tight end of revised price guidance of mid-swaps plus 25 to 27 bps.
The 20-year bonds priced at 98.631 to yield Treasuries plus 95 bps. The tranche priced inside of price guidance of Treasuries plus 97 to 100 bps.
ABN Amro, Citigroup, Goldman Sachs and UBS Investment Bank managed the sale of the Securities and Exchange Commission-registered bonds.
| Issuer: | Republic of Korea
|
| Issue: | Dual tranches of euro- and dollar- denominated bonds
|
| Amount: | $1 billion equivalent
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 2
|
| Joint bookrunners: | ABN Amro, Citigroup, Goldman Sachs, UBS Investment Bank
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A+
|
|
|
| 10-year tranche
|
| Amount: | €500 million
|
| Maturity: | Nov. 2, 2015
|
| Fixed rate coupon: | 3 5/8%
|
| Issue price: | 99.055
|
| Yield: | 3.74%
|
| Spread: | Mid-swaps plus 25 basis points
|
|
|
| 20-year tranche
|
| Amount: | $400 million
|
| Maturity: | Nov. 3, 2025
|
| Fixed rate coupon: | 5 5/8%
|
| Issue price: | 98.631
|
| Yield: | 5.741%
|
| Spread: | Treasuries plus 95 basis points
|
|
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