Bonds for KEB and SK Telecom trade up

A five-year FRN from KEB and a 20-year bond from SK Telecom perform well in secondary trading, potentially leading to some stability in the Asian bond market.

Two Korean transactions priced on Friday, on the back of a rally that saw 30-year Treasuries tighten to 5.186%, as compared to 5.28% on July 6. Both offerings have traded up on the secondary market.

Calyon, HSBC, Merrill Lynch and Morgan Stanley managed Korea Exchange BankÆs A2BBB $300 million five-year Reg-S FRN bond offering, which priced at the tight end of guidance at 33bp over three-month Libor. Guidance was released on Friday at 34bp over Libor, plus or...

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