KNOC, Yuhuang Chemical tease investors with bonds
Korea National Oil Corp (KNOC) is selling a combination of floating and fixed rate bonds, with price thoughts for a five and a 10 year released at the same level. On the high yield side, China’s Shandong Yuhuang Chemical Co is marketing its debut three year notes.
On Monday morning local time, KNOC opened books for a triple-tranche offering featuring a three year floating rate portion and fixed rate tranches divided into a five and a 10 year.
Initial price guidance for the three year was set at the 80bp over three month Libor area,
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