Published on 10/7/2014 in the Prospect News Emerging Markets Daily.
New Issue: Korea Exchange Bank sells $300 million 4¼% 10-year notes at 185 bps over Treasuries
By Christine Van Dusen
Atlanta, Oct. 7 – Korea Exchange Bank priced $300 million 4¼% 10-year notes (Baa2//BBB) at 99.903 to yield 4.262%, or Treasuries plus 185 basis points, on Tuesday, a market source said.
BofA Merrill Lynch, Credit Agricole CIB, HSBC, KEB Asia Finance and Standard Chartered Bank were the bookrunners for the deal.
Korea Exchange Bank is based in Seoul, South Korea.
| Issuer: | Korea Exchange Bank
|
| Amount: | $300 million
|
| Maturity: | Oct. 14, 2024
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Credit Agricole CIB, HSBC, KEB Asia Finance, Standard Chartered Bank
|
| Coupon: | 4¼%
|
| Price: | 99.903
|
| Yield: | 4.262%
|
| Spread: | Treasuries plus 185 bps
|
| Trade date: | Oct. 7
|
| Settlement date: | Oct. 14
|
| Expected ratings: | Moody’s: Baa2
|
| Fitch: BBB
|
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