Bank of Baroda and Woori Bank sell 5.5-year bonds

India's Bank of Baroda raises $350 million and Korea's Woori pockets $500 million, both taking advantage of the current steepness in the yield curve between five and six years to lure investors with a higher coupon.

Bank of Baroda and Woori Bank both issued 5.5-year bonds early Tuesday morning Hong Kong time. Korea's Woori brought the bigger of the two deals at $500 million, while India's Baroda raised $350 million.

Baroda, which is rated Baa2 by Moody's and BBB by Standard and Poor's, issued Reg-S senior fixed-rate notes with a coupon of 4.75% and a yield of 4.886%. The maturity date was set to October 7, 2015.

Initial guidance was indicated at Treasuries...

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