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Korea's LG-Caltex Oil sets price guidance for $300 million 10-year bonds at T+143 bps area
By Reshmi Basu and Paul A. Harris
New York, Aug. 16 - LG Caltex Oil set price guidance for its planned offering of $300 million 10-year bonds (Baa2/BBB) in the area of Treasuries plus 143 basis points, according to market sources.
The deal is expected to price mid-week.
Deutsche Bank, Bank of America and Citigroup are running the Rule 144A/Regulation S deal.
On July 22, Prospect News reported that the Korean petroleum refining company delayed the issue until further notice. At the time, LG Caltex was in the middle of a labor dispute, which forced it to shut down its refinery.
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