Kia Motors is "the one" for bond investors

Outsized order book for rare long-dated Korean paper.
Seeing double: Kia enters the Matrix
Seeing double: Kia enters the Matrix

Kia Motors returned to the international bond markets for the first time in five years on Thursday, building up an extremely large order book by both Korean and Asian standards.

The Baa1A-BBB rated credit managed to achieve a final order book of $10 billion by the the US book closed on its capped $700 million deal, with bankers reporting a very strong bid across all three regions and particularly the US. 

They also added that demand was pretty evenly split between the two tranches, with a slight tilt to the 10-year. 

While this level of demand was not quite...

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