korea-expressway-prices-benchmark-bond-in-busy-market

Korea Expressway prices benchmark bond in busy market

State-owned Korea Expressway raises $700 million from international investors amid a surge in issuance from emerging market borrowers.

Korea Expressway joined the rush of borrowers last week as it priced a $700 million bond late on Thursday night. The state-owned expressway builder closed the books at the tight end of price guidance to finalise a deal that paid investors a yield of 230bp over US Treasuries. The notes mature in March 2015.

¬ Haymarket Media Limited. All rights reserved.

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