Hynix prices 10-year high-yield bond

The South Korean semiconductor manufacturer prices a $500 million deal at the tight end of revised guidance, attracting a $5.9 billion order book.

Pricing its Reg-S, 144a 10-year $500 million transaction at par last night, Hynix Semiconductor closed its deal with a coupon of 7.875%. The transaction attracted a total book size of $5.9 billion via boorunners Citi, Credit Suisse, Goldman Sachs, KDB and Merrill Lynch.

The bond, rated Ba2BB-BB by Moody's, Standard and PoorÆs and Fitch,
comes two years after Hynix's last international transaction managed by Deutsche Bank, Citi, Merrill Lynch and UBS. In 2005, Hynix priced a...

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