GS E&C returns to convertible market

South Korea group issues dollar bond a few months after completing a domestic deal.

South Korean engineering, procurement and construction contractor GS Engineering Construction returned to the international bond markets with a $150 million convertible bond on Wednesday.

The company, commonly known as GS EC, ranks as one of only a handful of repeat issuers from Korea, having priced a debut $100 million CB via JP Morgan in January 2014.

Shortly after the early redemption of that bond earlier this year, GS EC returned to the domestic equity-linked market. In April it raised W250 billion $218 million from a five-year deal with a 2.9% coupon and a 14% conversion premium.

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