By Aleesia Forni
Columbus, Ohio, March 26 - Korea National Oil Corp. priced a $1 billion issue of 3 1/8% five-year senior notes (A1/A/) to yield Treasuries plus 210 basis points, according to a syndicate source.
The notes priced at 99.706 to yield 3.189%.
The notes were issued under the company's $6 billion global medium-term notes program.
Proceeds will be used for general corporate purposes.
Barclays, Bank of America Merrill Lynch, BNP Paribas, Deutsche Bank, HSBC and Korea Development Bank were the bookrunners.
Korea National Oil is an oil and gas production and exploration company based in Anyang, South Korea.
| Issuer: | Korea National Oil Corp.
|
| Amount: | $1 billion
|
| Maturity: | April 3, 2017
|
| Securities: | Senior unsecured notes
|
| Bookrunners: | Barclays, Bank of America Merrill Lynch, BNP Paribas, Deutsche Bank, HSBC, Korea Development Bank
|
| Coupon: | 3 1/8%
|
| Price: | 99.706
|
| Yield: | 3.189%
|
| Spread: | Treasuries plus 210 bps
|
| Trade date: | March 26
|
| Settlement date: | April 3
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
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