hynix-prices-10year-highyield-bond

Hynix prices 10-year high-yield bond

The South Korean semiconductor manufacturer prices a $500 million deal at the tight end of revised guidance, attracting a $5.9 billion order book.
Pricing its Reg-S, 144a 10-year $500 million transaction at par last night, Hynix Semiconductor closed its deal with a coupon of 7.875%. The transaction attracted a total book size of $5.9 billion via boorunners Citi, Credit Suisse, Goldman Sachs, KDB and Merrill Lynch.

The bond, rated Ba2BB-BB by Moody's, Standard and PoorÆs and Fitch,
comes two years after Hynix's last international transaction managed by Deutsche Bank, Citi, Merrill Lynch and UBS. In 2005, Hynix priced a debut seven-year non-call four fixed-rate and a seven-year non-call two floating-rate deal. These bonds traded up substantially on the secondary market, and sources say that last nightÆs transaction allowed the company to re-establish itself on...
¬ 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