kt-corp-offers-small-rare-deal

KT Corp offers small rare deal

The Korean telecom company issues a $200 million five-year note which prices at the tight end.
April 03, 2007
KT Corporation, the A-A3-rated Korean telecom company, yesterday issued a $200 million offshore five-year note via bookrunners Goldman Sachs and Citigroup. The deal priced inside guidance at 5.269%, closing with a coupon of 5.125% at a price of 99.374. This equates to 26bp over mid-swaps, 24.5bp over dollar Libor or 72bp over US Treasuries.

Building a total order book of almost $600 million, the deal was three times oversubscribed. The company allocated accounts to 30 investors in a broad distribution for this transaction. 71% of the bonds sold to Asia - mostly Hong Kong and Singapore - with 29% sold to Europe. KT Corporation sold 60% to banks, 28% to fund and asset managers,...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222