By Reshmi Basu
New York, June 18- KT Corp. priced $600 million of 10-year bonds (Baa1/A-) to yield 130 basis points over Treasuries, according to a market source.
The 5.875% bonds were priced at 98.65 to yield 6.075%.
KT Corp., a Sungnam, South Korea fixed-line telecommunications operator, will use proceeds to repay debt maturing next year.
Lead managers are JP Morgan, Deutsche Bank Securities.
The issue will be listed in the Singapore Stock Exchange.
Issuer: | KT Corp.
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Amount: | $600 million
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Issue: | Fixed-rate overseas note
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Maturity: | June 24, 2014
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Coupon: | 5.875%
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Price: | 98.65
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Yield: | 6.057%
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Spread: | 130 basis points
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Settlement date: | June 24
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Lead managers: | JP Morgan, Deutsche Bank Securities
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Co-managers: | Goldman Sachs, Daiwa Securities
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Ratings: | Moody's: Baa1
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| Standard & Poor's: A-
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