Woori prices tight

Aggressive bond issue from Korean commercial bank.

Woori Bank returned to the senior bond markets for the first time since September 2003 on Monday night with a $300 million 144a issue via Barclays and Merrill Lynch.

The five-year deal was priced 99.681% on a coupon of 4.50% to yield 4.572%. This equated to 87.2bp over Treasuries and 47bp over mid swaps. Fees were 22.5bp.

The deal appeared aggressive relative to the Baa1BBB rated bank's outstanding curve. Its September...

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