Korea Gas talks $500 million five-year bonds at 400 to 420 bps spread

By Aaron Hochman-Zimmerman

New York, July 8 - Korea Gas Corp. opened the books and released talk of Treasuries plus 400 basis points to 420 bps for its $500 million offering of five-year bonds (A2/A/), according to a market source.

The indicated yield was calculated at 6.30%.

Deutsche Bank, JPMorgan and Merrill Lynch will act as bookrunners for the Rule 144A and Regulation S deal.

A roadshow began on Monday in Los Angeles and Singapore, traveled to Hong Kong and New York on July 7 and concluded in Boston and London on July 8.

Proceeds will be used for general corporate purposes.

Korea Gas is a Bundang, South Korea-based energy firm.

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