New Issue: Korea Gas prices $700 million 2¼% five-year notes to yield Treasuries plus 175 bps

By Aleesia Forni

Columbus, Ohio, July 18 - Korea Gas Corp. priced a $700 million issue of 2¼% five-year senior notes (A1/A/) at 99.512 to yield 2.354%, or Treasuries plus 175 basis points, according to a syndicate source.

The deal priced at the tight end of guidance, which was set between Treasuries plus 175 bps to Treasuries plus 180 bps.

Bank of America Merrill Lynch, Citigroup, Goldman Sachs, UBS and Mizuho Securities were the bookrunners on the Rule 144A deal.

Korea Gas is a public natural gas company incorporated by the Korean government.

Issuer:	Korea Gas Corp.
Issue:	Senior unsecured notes
Amount:	$700 million
Maturity:	July 25, 2017
Bookrunners:	Bank of America Merrill Lynch, Citigroup, Goldman Sachs, UBS, Mizuho Securities
Coupon:	2¼%
Price:	99.512
Yield:	2.354%
Spread:	Treasuries plus 175 bps
Trade date:	July 18
Settlement date:	July 25
Ratings:	Moody's: A1
	Standard & Poor's: A
Price talk:	Treasuries plus 175 bps to Treasuries plus 180 bps
Distribution:	Rule 144A

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