LG Telecom's premium line

Korean cellular operator re-opens Asian high yield market - at a price.

Korea's smallest cellular operator completed its first international bond issue on Friday, raising $200 million from a five-year eurobond led by Credit Suisse First Boston.

The Ba2BB rated deal was priced at 98.01% on a coupon of 8.25% to yield 8.75%. This equated to 510bp over Treasuries and about 455bp over Libor.

Pricing at this level was significantly higher than most market observers were initially anticipating. But it is less surprising...

To continue reading, please login or register for free

Click for more on: lg | telecoms | premium | line

Print Edition

FinanceAsia Print Edition