Korea Highway Corp prices bond

The latest in a long pipeline of Korean credits accesses the dollar market.

Joint leads Deutsche Bank and Citigroup priced a maiden $500 million offering for the Korea Highway Corp KHC yesterday Thursday.

The 10-year deal represents one of the only pure benchmarks by a Korean corporate credit in the longer dated sector. However, investor fatigue towards Korean credits was once again clearly evident and while the deal priced within its indicative range, most observers believe the premium relative to the sovereign was a little high.

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