the-rok-keeps-on-rockin

The RoK keeps on rockin'

Korea prices a new dual-tranche sovereign bond inside of its existing yield curve.
The Republic of Korea RoK returned to the international debt markets for the first time in just over a year last night November 30 with a $1 billion equivalent dual-tranche global bond offering.

Under the lead management of Barclays Capital, Citigroup, Credit Suisse and Korea Development Bank, the A3AA rated Republic priced a $500 million 10-year bond and Ç375 million 15-year deal adding further to its curve across both currencies.

The 10-year SEC-registered deal was priced at 99.583% with a coupon of 5.125% to yield 5.179%. This equates to 69.6bp over Treasuries or 22bp over mid-swaps.

The 15-year euro deal came at 99.902% with a coupon of 4.25% to yield at...
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