Korea Gas, the world’s largest buyer of LNG, has sold the first euro bond from a South Korean corporate since June as Asian companies line up to take advantage of the lower borrowing costs on offer.
Kogas priced a 500 million 5.5-year bond with a coupon of 2.375% during European business hours on Tuesday, seeking to tap a cheap market hungry for good quality Asian credits.
The note priced at 103bp, which is 17bp tighter than an initial price guidance of euro mid swaps rate plus 120bp, according to a source.
Kogas’ bond comes hot on the heels of similar issues by Chinese...
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