bonds-for-keb-and-sk-telecom-trade-up

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 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...
¬ 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