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 minus 1bp, as markets stabilised in the US.
KEBÆs bonds have traded 1bp tighter on the secondary market.
The deal was 2.5 times subscribed and attracted approximately $750 million worth of demand. ôItÆs...
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