New Issue: Industrial Bank of Korea prices upsized $700 million 2% notes due 2020 at 75 bps spread

By Christine Van Dusen

Atlanta, April 17 – Industrial Bank of Korea priced an upsized $700 million issue of 2% notes due in 2020 (expected ratings: Aa3/A+/AA-) at a spread of Treasuries plus 75 basis points, a market source said.

The notes were talked at a spread of 75 bps to 80 bps.

BofA Merrill Lynch, Citigroup, Commerzbank, Deutsche Bank, HSBC, Mizuho Securities and IBK Securities were the bookrunners for the Rule 144A and Regulation S deal.

The deal was initially expected to total $600 million.

Other details were not immediately available on Friday.

Issuer:	Industrial Bank of Korea
Amount:	$700 million, increased from $600 million
Maturity:	2020
Description:	Notes
Bookrunners:	BofA Merrill Lynch, Citigroup, Commerzbank, Deutsche Bank, HSBC, Mizuho Securities, IBK Securities
Coupon:	2%
Spread:	Treasuries plus 75 bps
Trade date:	April 16
Expected ratings:	Moody’s: Aa3
	Standard & Poor’s: A+
	Fitch: AA-
Distribution:	Rule 144A and Regulation S
Price talk:	Treasuries plus 75 bps to 90 bps

© 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.