By Reshmi Basu
New York, Nov. 10 - Korea National Housing Corp. sold €400 million five-year floating-rate notes (A3/A) at 99.81 to yield Euribor plus 29 basis points, according to a market source.
The issue priced inside of price guidance, which was set at 32 to 34 bps more than Euribor.
This is the biggest floating-rate issue ever issued by a Korean corporate, according to a source.
Citigroup, Deutsche Bank, HSBC and Morgan Stanley were joint bookrunners for the Regulation S transaction.
The Seoul-based issuer is involved in housing construction and urban redevelopment.
| Issuer: | Korea National Housing Corp.
|
| Amount: | €400 million
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| Issue: | Floating-rate notes
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| Maturity: | Nov. 17, 2010
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| Coupon: | Three-month Euribor plus 25 bps
|
| Issue price: | 99.81
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| Yield: | Three-month Euribor plus 29 bps
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| Pricing date: | Nov. 10
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| Settlement date: | Nov. 17
|
| Joint bookrunners: | Citigroup, Deutsche Bank, HSBC, Morgan Stanley
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Price guidance: | 32 to 34 bps more than Euribor
|
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