best-pricing-for-korea-waters-150-million-offering

Best pricing for Korea Water's $150 million offering

Goldman Sachs prices the new five-year Korwat deal at the tight end of guidance.
In a deal marked by very quick execution, Goldman Sachs successfully priced a new $150 million five-year FRN for Korea Water Resources Korwat at the tight end of initial guidance.

On Tuesday, Goldman announced initial guidance in the region of 27bp to 30bp over three-month dollar Libor. When final pricing came on Wednesday, the deal closed at par with a coupon of 27bp over.

The A2A rated deal was announced last week and took in one-on-one meetings in Singapore and Hong Kong starting on Monday. The lead closed the order book with a total of $250 million in orders from 20 accounts. Geographically, Europe was the biggest buyer taking 29%, followed by Singapore with...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222