By Christine Van Dusen
Atlanta, April 24 – Korea Resources Corp. priced $350 million 2¼% five-year notes (expected ratings: Aa3/A+) at 99.465 to yield 2.3665%, or Treasuries plus 97.5 basis points, a market source said.
The notes priced tighter than talk, set in the 115 bps area.
BNP Paribas, 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.
|
| Amount: | $350 million
|
| Maturity: | April 29, 2020
|
| Description: | Senior notes
|
| Bookrunners: | BNP Paribas, Citigroup, HSBC
|
| Coupon: | 2¼%
|
| Price: | 99.465
|
| Yield: | 2.3665
|
| Spread: | Treasuries plus 97.5 bps
|
| Trade date: | April 23
|
| Settlement date: | April 29
|
| Expected ratings: | Moody’s: Aa3
|
| Standard & Poor’s: A+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 115 bps area
|
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