Korea talks $1 billion 10-year notes at Treasuries plus 115-120 bps; deal to price Wednesday

By Christine Van Dusen

Atlanta, Sept. 4 - Korea is looking to issue $1 billion 10-year notes at a spread of Treasuries plus 115 basis points to 120 bps, a market source said.

The Securities and Exchange Commission-registered deal is expected to price Wednesday.

Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Korea Development Bank and Woori Investment and Securities are the bookrunners for the transaction.

The proceeds will become part of the sovereign's Foreign Exchange Stabilization Fund, which is used for selling and purchasing foreign securities, depositing or lending, guaranteeing debt and temporarily paying foreign currency debt incurred by Korean institutions, according to a filing with the SEC.

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