Published on 7/6/2022 in the Prospect News Emerging Markets Daily.
New Issue: Korea Gas sells $500 million 3 7/8% bonds due 2027 at 115 bps spread
By Devika Patel and Cristal Cody
Knoxville, Tenn., July 6 – Korea Gas Corp. priced $500 million of 3 7/8% five-year bonds with a spread 115 basis points over Treasuries on Tuesday, according to a market source.
Initial price talk was in the Treasuries plus 145 bps area.
BofA, Citigroup, HSBC, JPMorgan, NHI, SHIN, KDB and UBS were the bookrunners.
Korea Gas is a natural gas company based in Daegu, South Korea.
| Issuer: | Korea Gas Corp.
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| Amount: | $500 million
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| Issue: | Bonds
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| Maturity: | July 13, 2027
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| Bookrunners: | BofA, Citigroup, HSBC, JPMorgan, NHI, SHIN, KDB and UBS
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| Coupon: | 3 7/8%
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| Spread: | Treasuries plus 115 bps
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| Trade date: | July 5
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| Guidance: | Treasuries plus 145 bps area
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