By William Gullotti
Buffalo, N.Y., July 19 – Korea Investment & Securities Co., Ltd. has issued $600 million of senior notes in two tranches (Baa2/BBB), according to a listing notice on Monday.
Both tranches are a drawdown under the company’s $5 billion medium-term note program.
The first tranche is $300 million of 1 3/8% three-year senior notes.
Additionally, the company sold a tranche of $300 million of 2 1/8% five-year senior notes.
BNP Paribas, Citigroup Global Markets Ltd., Credit Suisse (Hong Kong) Ltd., HSBC Ltd. and Korea Investment & Securities Asia Ltd. are the joint lead managers and joint bookrunners.
The listings for both tranches are expected to be effective July 21.
The proceeds will be used for general corporate purposes, according to Moody’s Investors Service.
Located in Seoul, Korea Investment provides financial services.
| Issuer: | Korea Investment & Securities Co., Ltd.
|
| Issue: | Senior unsecured notes
|
| Bookrunners: | BNP Paribas, Citigroup Global Markets Ltd., Credit Suisse (Hong Kong) Ltd., HSBC Ltd. and Korea Investment & Securities Asia Ltd.
|
| Issue date: | July 19
|
| Listing date: | July 21
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
|
|
| 2024 notes
|
| Amount: | $300 million
|
| Maturity: | July 19, 2024
|
| Coupon: | 1 3/8%
|
|
|
| 2026 notes
|
| Amount: | $300 million
|
| Maturity: | July 19, 2026
|
| Coupon: | 2 1/8%
|
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