Korea Resources issues debut $300 million quasi-sovereign

In the first issue by a Korean quasi-sovereign corporate this year, Korea Resources sells $300 million of five-year bonds.

Korea Resources Corporation Kores came to the US dollar market on Thursday last week to price $300 million of Reg-S registered, senior unsecured bonds -- its first foray into the international debt markets.

The bonds, which have been rated A1A by Moody's and Standard Poor's, are set to mature on May 19, 2015 and carry a fixed rate coupon of 4.125%. The securities were re-offered at 99.513 to yield 4.234%. This is equal to a spread of 197.5bp...

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