Best pricing for Korea Water's $150 million offering

Goldman Sachs prices the new five-year Korwat deal at the tight end of guidance.

In a deal marked by very quick execution, Goldman Sachs successfully priced a new $150 million five-year FRN for Korea Water Resources Korwat at the tight end of initial guidance.

On Tuesday, Goldman announced initial guidance in the region of 27bp to 30bp over three-month dollar Libor. When final pricing came on Wednesday, the deal closed at par with a coupon of 27bp over.

The A2A rated deal was announced last week and took in one-on-one meetings in Singapore...

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