By Aaron Hochman-Zimmerman
New York, July 9 - Korea Gas Corp. priced $500 million five-year bonds (A2/A/) at Treasuries plus 390 basis points, according to a source familiar with the deal.
The bonds priced tighter than talk of Treasuries plus 400 bps to 420 bps.
Korea Gas priced its debt with a coupon of 6% at 99.165 to yield 6.197%.
Merrill Lynch, Deutsche Bank and JPMorgan acted 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 Corp. is a Bundang, South Korea-based energy firm.
Issuer: Korea Gas Corp.
Issue: Global bonds
| Amount: | $500 million
|
| Maturity: | 2014
|
| Coupon: | 6%
|
| Price: | 99.165
|
| Yield: | 6.197%
|
| Spread | Treasuries plus 390 bps
|
| Bookrunners: | Merrill Lynch, Deutsche Bank, JPMorgan
|
| Distribution: | Rule 144A, Regulation S
|
| Pricing date: | July 9
|
| Settlement date: | July 16
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Price talk: | Treasuries plus 400 bps to 420 bps
|
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