Korea National Oil launches $700 million of notes due 2026, 2031

By Devika Patel and Cristal Cody

Knoxville, Tenn., March 29 – Korea National Oil Corp. launched a $700 million offering of notes in two tranches, according to a market source.

The deal includes $400 million of notes due April 7, 2026 launched at Treasuries plus 52.5 basis points. Initial talk for the tranche was in the Treasuries plus 80 bps area.

The issuer also plans to sell $300 million of notes due April 7, 2031, which were launched at Treasuries plus 75 bps. Initial talk had been in the Treasuries plus 100 bps area.

Korea National Oil is an oil and gas production and exploration company based in Ulsan, South Korea.

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