SK Energy bond offer raises $450 million

The Korean refiner has to scale back the size of its bond offer by $50 million but, in the end, attracts 60 investor accounts.

SK Energy priced a $450 million bond last night despite a spike in Asian credit spreads. Investors agreed to buy the five-year bonds at a 7.125% yield, which was in line with underwriters' expectations earlier in the week.

Discussions with investors started in earnest on Monday, just after the US government announced the biggest jump in unemployment for 22 years. And as if that wasn't bad enough, rising oil prices and inflation were spurring fears that central banks across the...

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