By Paul A. Harris
St. Louis, Feb. 1 - Industrial Bank of Korea priced a $350 million issue of 4 3/8% 5.5-year senior unsecured notes (A2/A/A+) on Monday to yield 205 basis points over Treasuries, according to a market source.
The spread came on top of the price talk.
The notes were sold at a reoffer price of 99.734, resulting in a yield of 4.43%.
Deutsche Bank, HSBC and Goldman Sachs & Co. were joint bookrunners for the Regulation S-only issue.
The Seoul-based bank is owned by the government of the Republic of Korea.
| Issuer: | Industrial Bank of Korea
|
| Amount: | $350 million
|
| Maturity: | Aug. 4, 2015
|
| Securities: | Senior unsecured notes
|
| Bookrunners: | Deutsche Bank, HSBC, Goldman Sachs & Co.
|
| Coupon: | 4 3/8%
|
| Price: | 99.734
|
| Yield: | 4.43%
|
| Spread: | 205 bps
|
| Trade date: | Feb. 1
|
| Settlement date: | Feb. 4
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Distribution: | Regulation S only
|
| Price talk: | Treasuries plus 205 bps
|
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