Published on 3/22/2011 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Industrial Bank of Korea prices $500 million 3¾% notes due 2016 to yield 3.878%
By Christine Van Dusen
Atlanta, March 22 - Industrial Bank of Korea priced $500 million 3¾% notes due Sept. 29, 2016 (A1/A/A+) at 99.371 to yield 3.878%, or Treasuries plus 183 basis points, a market source said.
Morgan Stanley, BNP Paribas, Citigroup and RBS were the bookrunners for the Rule 144A and Regulation S notes, which are non-callable.
Industrial Bank of Korea is based in Seoul.
| Issuer: | Industrial Bank of Korea
|
| Amount: | $500 million
|
| Maturity: | Sept. 29, 2016
|
| Description: | Notes
|
| Bookrunners: | Morgan Stanley, BNP Paribas, Citigroup, RBS
|
| Coupon: | 3¾%
|
| Price: | 99.371
|
| Yield: | 3.878%
|
| Spread: | Treasuries plus 183 bps
|
| Call features: | Non-callable
|
| Trade date: | March 22
|
| Settlement date: | March 29
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Distribution: | Rule 144A and Regulation S
|
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