By Reshmi Basu and Paul A. Harris
New York, Nov. 5 - Korea Water Resources Corp. sold $150 million 10-year bonds Thursday at 99.406 with a 4 7/8% coupon to yield 4.951%, or 87 basis points over Treasuries, according to market sources.
The bulging book size was $1.5 billion. Demand for the issue was so strong that the issuer canceled roadshows in London.
Citigroup and UBS Investment Bank ran the books for the Regulation S deal.
The company, based in Daejeon, oversees South Korea's water resources.
| Issuer: | Korea Water Resources Corp.
|
| Issue: | Bonds
|
| Amount: | $150 million
|
| Maturity: | Nov. 10, 2014
|
| Coupon: | 4 7/8%
|
| Issue price: | 99.406
|
| Yield: | 4.951%
|
| Spread: | 87 basis points over Treasuries
|
| Pricing date: | Nov. 4
|
| Settlement date: | Nov. 12
|
| Managers: | Citigroup
|
| UBS Investment Bank
|
|
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