Korea prices new sovereign bond

Republic adopts a more investor friendly approach to the international debt markets.

The Republic of Korea ROK returned to the international debt markets for the first time in just over a year yesterday September 16 with a $1 billion global bond offering.

Under the lead management of Barclays, Citigroup, Deutsche and JPMorgan, the 10-year SEC registered deal was priced at 99.290% on a coupon of 4.875% to yield 4.966%. This equates to 85bp over Treasuries or 40bp over Libor. Fees are 12.5bp.

Specialists believe the new deal has priced right on top of the outstanding curve on a like-for-like basis. The Republic's existing 4.25% June 2013 bond was being quoted yesterday at 71bp over Treasuries, equating to...

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