By Rebecca Melvin and Cristal Cody
Concord, N.H., March 30 – Korea National Oil Corp. priced $700 million of notes due 2026 and 2031 on Monday, according to a market source.
The deal includes $400 million of 1¼% five-year notes to yield Treasuries plus 52.5 basis points. Initial talk for the tranche was in the Treasuries plus 80 bps area.
The issuer also priced $300 million of 2 3/8% 10-year notes to yield 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.
Issuer: | Korea National Oil Corp.
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Issue: | Notes
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Amount: | $700 million
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Pricing date: | March 29
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2026 notes
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Amount: | $400 million
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Maturity: | April 7, 2026
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Coupon: | 1¼%
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Yield spread: | Treasuries plus 52.5 bps
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Talk: | Treasuries plus 80 bps area
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2031 notes
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Amount: | $300 million
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Maturity: | April 7, 2031
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Coupon: | 2 3/8%
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Yield spread: | Treasuries plus75 bps
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Talk: | Treasuries plus 100 bps area
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