By Sarah Lizee
Olympia, Wash., June 24 – Pan Ocean Co., Ltd. priced KRW 100 billion of three-year unsecured public straight bonds in Korea, according to a company announcement.
The coupon was calculated by subtracting 42 basis points from the mark-to-market benchmark yields of three-year nonguaranteed publicly offered corporate bonds of credit rating A- as of June 27, which is based on an average yield-to-maturity of four rating agencies.
The bonds priced at par and are expected to be issued on June 28.
Proceeds will be used for facility investment and general operating expenses.
Pan Ocean is a Seoul, South Korea-based marine shipping company.
| Issuer: | Pan Ocean Co., Ltd.
|
| Issue: | Unsecured public straight bonds
|
| Amount: | KRW 100 billion
|
| Maturity: | Three years
|
| Coupon: | 42 bps below the mark-to-market benchmark yields of three-year nonguaranteed publicly offered corporate bonds of credit rating A- as of June 27, which is based on an average yield to maturity of four rating agencies
|
| Price: | Par
|
| Settlement date: | June 28
|
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