Korea’s youngest policy bank, Korea Finance Corporation KoFC, debuted in the international bond markets early Thursday morning with the pricing of a $750 million six-year bond. The notes, which were issued under its $10 billion medium-term note programme, were well received by a market that had been anticipating a deal since the borrower went on the road in May.
The senior unsecured notes pay a 3.25% fixed-rate coupon. They were reoffered at 99.867 to yield 3.273%. This was equivalent to a spread of 182.5bp over the five-year US Treasury yield, or 134bp on a mid-swaps basis. The maturity date has been set to September 20, 2016.
In a sector that has been...
¬ Haymarket Media Limited. All rights reserved.
