Published on 11/16/2006 in the Prospect News Emerging Markets Daily.
New Issue: Korea National Housing sells $500 million Libor plus 25 bps five-year notes at 99.912
By Paul A. Harris
St. Louis, Nov. 16 - Korea National Housing Corp. priced a $500 million issue of five-year notes (A3/A) on Wednesday at 99.912 with a coupon of three-month Libor plus 25 basis points, according to a market source.
The spread to Libor came inside of the 27 to 30 basis points price talk.
Citigroup, Deutsche Bank and HSBC were the bookrunners for the Rule 144A and Regulation S issue from the Seoul, Korea-based housing construction and urban redevelopment agency.
Issuer: | Korea National Housing Corp.
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Amount: | $500 million
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Maturity: | Nov. 22, 2011
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Security description: | Global floating-rate notes
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Underwriters: | Citigroup, Deutsche Bank, HSBC
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Coupon: | Three-month Libor plus 25 bps
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Price: | 99.912
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Trade date: | Nov. 15
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Settlement date: | Nov. 22
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Ratings: | Moody's: A3
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| Standard & Poor's: A
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Distribution: | Rule 144A/Regulation S
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Price talk: | Three-month Libor plus 27 to 30 bps
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