By Cristal Cody
Chicago, Jan. 12 – SK Hynix Inc. sold $1.5 billion of notes in two parts (Baa2//BBB), according to information from a market source.
The deal included $500 million of 5˝% notes with a three-year tenor. Pricing came at Treasuries plus 145 basis points. Talk started the notes in the 180 bps area.
The deal also included $1 billion of 5˝% five-year notes. The notes priced at Treasuries plus 167 bps versus talk in the 200 bps area.
BNP Paribas, Citigroup, Credit Agricole CIB, HSBC, JPMorgan, Mizuho Securities, MUFG and Korea Development Bank were the bookrunners.
The proceeds will be used for general corporate purposes, including refinancing debt, according to Fitch Ratings.
Icheon, South Korea-based SK Hynix is a memory semiconductor supplier of dynamic random-access memory chips and flash memory chips.
| Issuer: | SK Hynix Inc.
|
| Amount: | $1.5 billion
|
| Issue: | Notes
|
| Bookrunners: | BNP Paribas, Citigroup, Credit Agricole CIB, HSBC, JPMorgan, Mizuho Securities, MUFG and Korea Development Bank
|
| Trade date: | Jan. 8
|
| Ratings: | Moody’s: Baa2
|
| Fitch: BBB
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 16, 2027
|
| Coupon: | 5˝%
|
| Spread: | Treasuries plus 145 bps
|
| Price talk: | Treasuries plus 180 bps area
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 16, 2029
|
| Coupon: | 5˝%
|
| Spread: | Treasuries plus 167 bps
|
| Price talk: | Treasuries plus 200 bps area
|
|
|
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