Korea to price benchmark dollar bond later today

Korea's first sovereign offering in three years is set to price generously and attract solid demand. Meanwhile, the Korean government extends its state bond guarantee by six months and includes maturities of up to five years.

South Korea is expected to price a five- and 10-year dual-tranche US dollar benchmark bond issue later today and analysts predict it will generate strong investor demand.

An e-mail from the lead managers said that pricing will take place in the New York morning today and that the shorter tranche will be reoffered at a spread of around 400bp over the five-year US Treasury yield, while the 10-year bonds will price at around 437.5bp over the equivalent Treasury note. The...

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