By Reshmi Basu
New York, July 9 - LG Telecom priced an offering of $200 million of five-year notes (Ba2/BB+) at 98.01 to yield 8.75%, according to a market source.
The notes are non-callable.
The Seoul, South Korea-based wireless provider will use the proceeds to refinance debt.
Credit Suisse First Boston ran the books.
| Issuer: | LG Telecom
|
| Amount: | $200 million
|
| Issue: | Notes
|
| Maturity: | July 15, 2009
|
| Coupon: | 8¼%
|
| Issue price: | 98.01
|
| Yield: | 8¾%
|
| Spread: | Treasuries plus 510 basis points
|
| Call option: | Non-callable
|
| Pricing date: | July 9
|
| Settlement date: | July 15
|
| Bookrunner: | Credit Suisse First Boston
|
| Ratings: | Moody's: Ba2
|
| Standard and Poor's: BB+
|
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