Korea Resources fires up bond

Quasi-sovereign borrower pays a new issue premium to counteract ratings pressure.

Korea Resources fires up bond
Korea Resources' rating feeling the heat from Moody's

Korea Resources returned to the international bond markets with a $500 million deal on Monday, almost one year after its last outing.

The quasi-sovereign borrower sized its five-year Reg S deal at the higher end of expectations for $300 million to $500 million.

In doing so, it took advantage of a relatively strong order book compared to recent precedent and slightly firmer market conditions, with investment grade spreads tightening 1bp to 2bp...

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