South Korea to start roadshow for benchmark-sized dollar-, euro-denominated global bonds on Monday in Hong Kong

By Paul A. Harris

St. Louis, Nov. 22 - The Republic of Korea will begin a roadshow on Monday in Hong Kong for a benchmark-sized offering of global bonds, which it intends to price in dollar-denominated and euro-denominated tranches, according to market sources.

Subsequent roadshow stops are scheduled for Paris on Tuesday and London on Wednesday.

Barclays Capital, Citigroup, Credit Suisse and Korea Development Bank are joint bookrunners for the offering of notes, which have been registered with the Securities and Exchange Commission.

Moody's Investors Service assigns its A3 issuer rating to the Republic of Korea. The Standard & Poor's issuer rating for Korea is A. The Fitch issuer rating is A+.

In October 2005, Korea priced $1 billion equivalent of bonds in dollar and euro tranches.

That transaction was comprised of a €500 million tranche of 3 5/8% bonds due November 2015, which priced at a 25 basis point spread to mid-swaps, and a $400 million tranche of 5 5/8% bonds due November 2025, which priced at a 95 basis point spread to Treasuries.

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