According to market sources, the additional paper was well received by investors and the bonds tightened by up to nine basis points on a spread over Treasuries-basis in secondary trading yesterday versus the pricing on Tuesday night. The bonds, which mature in 2013 and pay a semi-annual coupon of 5.375%, were priced at 97.813 for a yield to maturity of 5.9125%. This represented a spread of 284.76bp over five-year Treasuries and a re-offer premium of about 25bp-30bp versus the 255bp-260bp spread where the Korail...
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