SK Corp launches combined jumbo monetization

A $1.5 billion ADR and exchangeable into SK Telecom began pre-marketing on Monday.

On completion, the CSFB and Goldman Sachs led deal should not only rank as the largest equity transaction from Korea year-to-date, but also the second largest from Asia overall pending the successful completion of Bank of China's IPO.

The deal revives a plan to monetize a percentage of SK Corp's 32.5% stake in SK Telecom in order to reduce short-term debt at the parent. Having originally mandated an exchangeable last December, the transaction was pulled just before the imposition...

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