Woori Bank sold a $500 million five-year bond on Tuesday night during US hours, joining GS Caltex and other South Korean companies that have tapped the international bond market this month.
The Reg S144a fixed-rate senior unsecured note was issued 15bp tighter than the initial price guidance of 175bp above Treasuries, according to sources close to the deal. The bond was four times oversubscribed an indication of strong investor demand for Korean credits with 55% of investors coming from Asia, 28% from the US and the remaining from Europe.
Barclays, Citigroup, Deutsche Bank, HSBC, JPMorgan, Standard Chartered and Woori Investment Securities were joint bookrunners...
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