Korea's KT Corp. talks $300 million 10-year notes at Treasuries plus 100-105 bps, to price next week

By Paul A. Harris

St. Louis, July 7 - South Korea's KT Corp. is talking its $300 million offering of 10-year fixed-rate notes (A3/A-) at U.S. Treasuries plus 100 to 105 basis points, according to a syndicate source.

The company disclosed Tuesday in a Securities and Exchange Commission filing that it has approval to issue up to $400 million of the notes; however the syndicate source said the deal size is expected to remain at $300 million.

Pricing is expected early next week following investor presentations on Monday on the U.S. East Coast.

Goldman Sachs & Co., JP Morgan, Merrill Lynch & Co. and UBS Investment Bank are bookrunners for the Rule 144A/Regulation S offering.

The prospective issuer is a Sungam, Korea-based provider of telecommunication services.

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