By Rebecca Melvin
Concord, N.H., May 18 – Korea Expressway Corp. has priced $500 million of 3 5/8% senior notes due May 18, 2025 (expected rating: A2/AA), according to a listing notice.
The notes were issued on Wednesday and will be listed on the Singapore exchange on Thursday.
Proceeds will be used for general corporate purposes, including repayment of maturing debt, according to Moody’s Investors Service.
The expressway construction and maintenance company is based in Gimcheon, South Korea.
| Issuer: | Korea Expressway Corp.
|
| Amount: | $500 million
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| Issue: | Senior notes
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| Maturity: | May 18, 2025
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| Coupon: | 3 5/8%
|
| Trade date: | May 18
|
| Listing date: | May 19
|
| Expected ratings: | Moody’s: A2
|
| S&P: AA
|
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