KT Corp dials in with new 10 year deal
Korean Telecom gets good reception on new deal and prices inside of it's own curve.
Following a relatively short roadshow schedule, Merrill Lynch and UBS priced a $200 million 10-year Reg S offering for Korean telecoms company, KT Corp.
Marketed to investors at a level of around 112bp over treasuries, the deal was shopped via two roadshow teams in London and Singapore and Hong Kong this week.
The unsubordinated, unsecured notes, rated A-A3, priced at 97.743% on a coupon of 5.875% to yield 6.181%, equating to a spread of 110bp over Treasuries.
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