gs-caltex-closes-bond-in-record-time

GS Caltex closes bond in record time

Deutsche Bank and Goldman Sachs announce, tighten and then price Asia's first high-grade deal in over a month and do so in less than eight hours.
August 01, 2006
Korean oil refiner, GS Caltex, priced one of AsiaÆs faster ever bond deals on Tuesday August 1 when it completed a $200 million 10-year offering a mere eight hours after the deal's first being announced.

The Reg-S only deal was announced just after Asia opened yesterday morning via joint bookrunners Deutsche Bank and Goldman Sachs and closed at 6pm with an order book that was 2.5-times oversubscribed and priced at the tight end of revised guidance.

Deutsche and Goldman Sachs announced the Baa1BBB deal early Tuesday with an indicative pricing of 114bp to 117bp over 10-year US Treasuries, however as the book built up momentum throughout the afternoon, the leads opted to tighten guidance...
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