Korea Highway priced its third international bond issue in New York on Tuesday May 17 raising $500 million from a Citigroup, JPMorgan and UBS led deal. The A3A- sovereign rated issued was priced against a backdrop of renewed spread widening, with the Korean curve out about 8bp to 10bp over the course of roadshows.
However non-syndicate bankers felt the credit and its lead managers had done a good job executing the deal, which went onto to trade well in the immediate secondary market. Getting the pricing right and holding a deal steady afterwards is not easy in these markets, said one banker. Executing a transaction without any hitches is...
