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Published on 9/19/2006 in the Prospect News Emerging Markets Daily.

Korea Highway talks €400 million 10-year notes at mid-swaps plus 42 bps

By Reshmi Basu

New York, Sept. 19 - Korea Highway Corp. set price guidance for a €400 million offering of senior unsecured notes due 2016 (A3) at mid-swaps plus 42 basis points, according to a market source.

Deutsche Bank, JP Morgan and UBS are lead managers for the issue, which will be priced off the issuer's multi-currency medium-term note program.

On May 17, 2005, Korea Highway priced a $500 million issue of 5 1/8% 10-year senior fixed-rate notes (A3/A-/A) at 98.938 to yield 5.263%, or 115 basis points over Treasuries.


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