By Aleesia Forni
Virginia Beach, Oct. 18 - Korea Exchange Bank priced $200 million of 4 5/8% 10-year tier 2 subordinated notes (Baa1/BBB+/) with a spread of Treasuries plus 205 basis points, according to a market source.
The notes were sold 30 bps tighter than original guidance.
BofA Merrill Lynch and Barclays were the bookrunners.
Korea Exchange Bank is based in Seoul, South Korea.
| Issuer: | Korea Exchange Bank
|
| Amount: | $200 million
|
| Description: | Subordinated notes
|
| Maturity: | Oct. 24, 2023
|
| Bookrunners: | BofA Merrill Lynch, Barclays
|
| Coupon: | 4 5/8%
|
| Spread: | Treasuries plus 205 bps
|
| Trade date: | Oct. 17
|
| Settlement date: | Oct. 24
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Price talk: | Treasuries plus 235 bps
|
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