Published on 6/23/2014 in the Prospect News Emerging Markets Daily.
New Issue: Korea Gas prices $500 million 3˝% notes due 2026 at 92.5 bps spread
By Christine Van Dusen
Atlanta, June 23 – Korea Gas Corp. priced $500 million 3˝% notes due July 2, 2026 (expected ratings: A1/A+/AA-) at 99.699 to yield Treasuries plus 92.5 basis points, a market source said.
BNP Paribas, Citigroup, HSBC, 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: | July 2, 2026
|
| Description: | Senior notes
|
| Bookrunners: | BNP Paribas, Citigroup, HSBC, JPMorgan, UBS
|
| Coupon: | 3˝%
|
| Price: | 99.699
|
| Spread: | Treasuries plus 92.5 bps
|
| Trade date: | June 23
|
| Settlement date: | July 2
|
| Expected ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Fitch: AA-
|
| Distribution: | Rule 144A and Regulation S
|
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