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...
