New Issue: Industrial Bank of Korea sells $500 million 2 3/8% notes due 2017 at 185 bps spread

By Aleesia Forni

Columbus, Ohio, July 10 - Industrial Bank of Korea priced a $500 million issue of 2 3/8% five-year senior notes (A1/A/A+) at 99.532 to yield 2.475%, or 185 basis points over Treasuries, a syndicate source said.

Citigroup, Deutsche Bank, Goldman Sachs, Bank of America Merrill Lynch and Standard Chartered were bookrunners for the Regulation S and Rule 144A deal.

The bank has headquarters in Seoul, South Korea.

Issuer:	Industrial Bank of Korea
Issue:	Senior unsecured notes
Amount:	$500 million
Maturity:	July 17, 2017
Bookrunners:	Citigroup, Deutsche Bank, Goldman Sachs, Bank of America Merrill Lynch, Standard Chartered
Coupon:	2 3/8%
Price:	99.532
Yield:	2.475%
Spread:	Treasuries plus 185 bps
Trade date:	July 10
Settlement date:	July 17
Distribution:	Regulation S, Rule 144A
Ratings:	Moody's: A1
	Standard & Poor's: A
	Fitch: A+

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.