New Issue: Korea Gas prices $500 million 3½% notes due 2025 at 110 bps spread

By Christine Van Dusen

Atlanta, July 14 – Korea Gas Corp. sold $500 million 3½% 10-year notes (expected ratings: Aa3/A+/AA-) at 99.824 to yield Treasuries plus 110 basis points on Tuesday, a market source said.

The notes were talked at a spread in the 125 bps area.

Barclays, BofA Merrill Lynch, Deutsche Bank, HSBC, Mizuho Securities and UBS were the bookrunners for the Rule 144A and Regulation S deal.

Issuer:	Korea Gas Corp.
Amount:	$500 million
Maturity:	July 21, 2025
Description:	Senior notes
Bookrunners:	Barclays, BofA Merrill Lynch, Deutsche Bank, HSBC, Mizuho Securities, UBS
Coupon:	3½%
Price:	99.824
Spread:	Treasuries plus 110 bps
Trade date:	July 14
Settlement date:	July 21
Expected ratings:	Moody's: Aa3
	Standard & Poor's: A+
	Fitch: AA-
Distribution:	Rule 144A and Regulation S
Price talk:	Treasuries plus 125 bps area

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