KNOC seizes opportunity to price $1 billion bond

KNOC pushes ahead with a global bond as borrowers remain at the mercy of the European debt crisis.

KNOC seizes opportunity to price $1 billion bond
A family skips in front of propane tanks on KNOC's homepage

Korea National Oil Corp KNOC priced a $1 billion five-year senior bond early this morning, capturing what could well prove to be a brief window in the market. Barclays Capital, Bank of America Merrill Lynch, HSBC, KDB and Royal Bank of Scotland were joint bookrunners.

KNOC is a wholly government-owned upstream exploration and production company. Its bonds priced at Treasuries plus 310bp, about 20bp inside the initial price guidance, which was in the area...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES