By Mary-Katherine Stinson
Lexington, Ky., Aug. 10 – KT Corp. sold $500 million of 4% notes due 2025 (A-/A) at 99.835, according to an offering circular.
BNP Paribas, Citigroup, Credit Agricole CIB, HSBC and J.P. Morgan were the joint lead managers and joint bookrunners.
The Rule 144A and Regulation S notes were issued Aug. 8 and were listed on the Singapore Exchange effective Aug. 10.
Proceeds will be used for general corporate purposes, including the repayment of existing debt.
KT Corp. is a Seongnam, Korea-based telecommunications provider.
| Issuer: | KT Corp.
|
| Amount: | $500 million
|
| Issue: | Notes
|
| Maturity: | Aug. 8, 2025
|
| Bookrunners: | BNP Paribas, Citigroup, Credit Agricole CIB, HSBC and J.P. Morgan
|
| Trustee: | Citicorp International Ltd. as fiscal agent
|
| Counsel to issuer: | Kim & Chang
|
| Counsel to underwriters: | Cleary Gottlieb Steen & Hamilton LLP
|
| Coupon: | 4%
|
| Price: | 99.835
|
| Call: | No
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 8
|
| Listing date: | Aug. 10
|
| Ratings: | S&P: A-
|
| Fitch: A
|
| Distribution: | Rule 144A and Regulation S
|
| ISIN: | US48268KAG67, USY49915BB93
|
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