New Issue: Korea Gas prices $500 million 3 7/8% notes due 2024 at 125 bps spread

By Christine Van Dusen

Atlanta, Feb. 7 - Korea Gas Corp. sold $500 million 3 7/8% 10-year notes (A1/A+/AA-) at 99.385 to yield 3.95%, or Treasuries plus 125 basis points, a market source said.

The notes priced tighter than talk, set at Treasuries plus 145 bps.

BofA Merrill Lynch, Barclays, Goldman Sachs, JPMorgan and UBS were the bookrunners for the Rule 144A and Regulation S deal.

Korea Gas is a natural gas company based in Seongnam, South Korea.

Issuer:	Korea Gas Corp.
Amount:	$500 million
Maturity:	Feb. 12, 2024
Description:	Senior notes
Bookrunners:	BofA Merrill Lynch, Barclays, Goldman Sachs, JPMorgan, UBS
Coupon:	3 7/8%
Price:	99.385
Yield:	3.95%
Spread:	Treasuries plus 125 bps
Trade date:	Feb. 6
Settlement date:	Feb. 12
Ratings:	Moody's: A1
	Standard & Poor's: A+
	Fitch: AA-
Distribution:	Rule 144A and Regulation S
Price talk:	Treasuries plus 145 bps

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