By Christine Van Dusen
Atlanta, July 31 - Korea Finance Corp. priced a $500 million issue of 2¼% notes due Aug. 7, 2017 (A1/A/A+) at 99.251 to yield 2.41%, or Treasuries plus 180 basis points, a market source said.
The notes priced at the high end of talk, set at Treasuries plus 175 bps to 180 bps.
Bank of America Merrill Lynch, Deutsche Bank, HSBC, Korea Development Bank and Morgan Stanley were the bookrunners for the Securities and Exchange Commission-registered deal.
Proceeds will be used for general operations, including extending foreign currency loans, according to a company filing.
Korea Finance is based in Seoul, South Korea.
| Issuer: | Korea Finance Corp.
|
| Amount: | $500 million
|
| Maturity: | Aug. 7, 2017
|
| Description: | Senior notes
|
| Bookrunners: | Bank of America Merrill Lynch, Deutsche Bank, HSBC, Korea Development Bank, Morgan Stanley
|
| Coupon: | 2¼%
|
| Price: | 99.251
|
| Yield: | 2.41%
|
| Spread: | Treasuries plus 180 bps
|
| Trade date: | July 31
|
| Settlement date: | Aug. 7
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Distribution: | Securities and Exchange Commission-registered
|
| Price talk: | Treasuries plus 175 bps to 180 bps
|
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