Published on 10/16/2012 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Korea Expressway sells $500 million 1 7/8% notes due 2017 at Treasuries plus 130 bps
By Christine Van Dusen
Atlanta, Oct. 16 - Korea Expressway Corp. priced a $500 million issue of 1 7/8% five-year notes (expected ratings: A1/A+/A+) at 99.597 to yield Treasuries plus 130 basis points, a market source said.
Bank of America Merrill Lynch, Deutsche Bank, JPMorgan and RBS were the bookrunners for the Rule 144A and Regulation S deal.
Korea Expressway runs the toll roads in South Korea.
| Issuer: | Korea Expressway Corp.
|
| Amount: | $500 million
|
| Maturity: | Oct. 22, 2017
|
| Description: | Senior notes
|
| Bookrunners: | Bank of America Merrill Lynch, Deutsche Bank, JPMorgan, RBS
|
| Coupon: | 1 7/8%
|
| Price: | 99.597
|
| Spread: | Treasuries plus 130 bps
|
| Trade date: | Oct. 16
|
| Settlement date: | Oct. 22
|
| Expected ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Distribution: | Rule 144A and Regulation S
|
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