By Christine Van Dusen
Atlanta, April 29 - Korea Resources Corp. priced a $340 million issue of 2 7/8% five-year notes (expected A1/A+/) at 99.539 to yield Treasuries plus 122.5 basis points, a market source said.
The notes were previously talked at a spread of 145 bps to 150 bps.
BofA Merrill Lynch, Citigroup and HSBC were the bookrunners for the Rule 144A and Regulation S deal.
Korea Resources is a mining company based in Seoul, South Korea.
Issuer: | Korea Resources Corp.
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Amount: | $340 million
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Maturity: | May 7, 2019
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Description: | Senior notes
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Bookrunners: | BofA Merrill Lynch, Citigroup, HSBC
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Coupon: | 2 7/8%
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Price: | 99.539
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Spread: | Treasuries plus 122.5 bps
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Trade date: | April 29
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Settlement date: | May 7
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Expected ratings: | Moody's: A1
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| Standard & Poor's: A+
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Distribution: | Rule 144A and Regulation S
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Price talk: | Treasuries plus 145 bps to 150 bps
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