New Issue: Korea's KT issues KRW200 billion of seven- and 10-year bonds

By Reshmi Basu

New York, April 14 - KT Corp. said it sold a dual tranche offering of 7- year and 10-year bonds in the amount of KRW 200 billion.

The first tranche was KRW100 billion of seven-year bonds with an interest rate of five-year government bonds plus 50 basis points.

The second tranche was KRW100 billion of 10-year bonds with an interest rate of five-year government bonds plus 75 basis points.

Proceeds from the sale will be used to repay long-term debt.

The settlement date is April 20.

Daewoo Securities Co. is the underwriter.

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