Published on 10/30/2013 in the Prospect News Emerging Markets Daily.
New Issue: Korea Railroad prices $315 million 1½% notes due 2019 at 72 bps spread
By Christine Van Dusen
Atlanta, Oct. 30 - Korea Railroad Corp. priced $315 million 1½% notes due Dec. 2, 2019 (A1/A/) at 99.673 to yield 1.558%, or mid-swaps plus 72 basis points, a market source said.
BNP Paribas, Credit Suisse and UBS were the bookrunners for the deal.
The rail operator is 100% owned by the Republic of Korea.
| Issuer: | Korea Railroad Corp.
|
| Amount: | $315 million
|
| Maturity: | Dec. 2, 2019
|
| Description: | Senior notes
|
| Bookrunners: | BNP Paribas, Credit Suisse, UBS
|
| Coupon: | 1½%
|
| Price: | 99.673
|
| Yield: | 1.558%
|
| Spread: | Mid-swaps plus 72 bps
|
| Trade date: | Oct. 30
|
| Settlement date: | Dec. 2
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
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