By Cristal Cody
Tupelo, Miss., Feb. 26 - Korea Housing Finance Corp. sold $500 million of 1 5/8% covered bonds due Sept. 15, 2018 at 99.308 to yield 1.757% in its third cross-border covered bond offering on Tuesday, according to a syndicate source.
The bonds (Aa1) priced at a spread of Treasuries plus 100 basis points, on the lower end of guidance set at Treasuries plus 100 bps to 105 bps.
Nomura Securities was the bookrunner. Citigroup Global Markets and Standard Chartered Bank were joint lead managers for the Rule 144A and Regulation S notes.
The housing finance company is based in Seoul, South Korea.
| Issuer: | Korea Housing Finance Corp.
|
| Amount: | $500 million
|
| Maturity: | Sept. 15, 2018
|
| Securities: | Covered bonds
|
| Bookrunner: | Nomura Securities
|
| Lead managers: | Citigroup Global Markets, Standard Chartered Bank
|
| Coupon: | 1 5/8%
|
| Price: | 99.308
|
| Yield: | 1.757%
|
| Spread: | Treasuries plus 100 bps
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 7
|
| Ratings: | Moody's: Aa1
|
| Distribution: | Rule 144A, Regulation S
|
| Price talk: | Treasuries plus 100 bps-105 bps area
|
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