New Issue: South Korea's KT Corp. sells upsized $400 million 10-year notes at Treasuries plus 98 bps

By Reshmi Basu

New York, July 11 - KT Corp. priced an upsized offering of $400 million in 10-year notes at 98.086 for a spread of Treasuries plus 98 basis points, according to a market source.

The deal was increased from $300 million and priced in line with talk that put the spread at 98 basis points.

Goldman Sachs, JP Morgan, Merrill Lynch and UBS were the lead managers for the Rule 144A/Regulation S offering of senior fixed-rate notes.

KT, based in Sungam, Korea, provides telecommunication services.

Issuer: KT Corp.

Amount:	$400 million
Issue:	Senior fixed-rate notes
Maturity:	July 15, 2015
Coupon:	4 7/8%
Issue price:	98.086
Yield:	5.122%
Spread:	98 basis points
Pricing date:	July 11
Settlement date:	July 15
Lead managers:	Goldman Sachs, JP Morgan, Merrill Lynch, UBS
Ratings:	Moody's: A3
	Standard & Poor's: A-
Talk:	98 basis points

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