GS Caltex may upsize bond

Joint bookrunners Bank of America, Barclays and Merrill Lynch to price $300 million GS Caltex bond later today.

The Korean oil refiner, started roadshows on Oct 13, shopping the Reg-S 144A deal to investors at roadshows in London, New York, Singapore and Boston. Although initially launched at a size of $300 million, the book is said to have already topped that mark and observers speculate that the deal could be upsized. The borrower is looking to raise $500 million in the debt markets in order to pay down debts.

The bookrunners opened the bookbuilding process marketing the notes at an indicative range of 110bp to 115bp over 10-year US Treasuries or 62bp to 67bp over Libor.

With the 2014 to 2015 curve estimated to be worth approximately 7bp, the...

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