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...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition

EVENTS