KoGas $500m 10yr continues Korean winning streak
Korea Gas Corp (Kogas) received overwhelming demand for its $500m 10 year bond on Thursday, capitalising on improved market sentiment and a successful deal from Korea Midland Power the day before to secure a $4bn orderbook and price inside its curve.
The positive momentum continued into Friday with the bond tightening to 117bp-119bp in the
secondary market having priced at 125bp over Treasuries.
"I don’t think we could have priced tighter,” said a banker on the deal. “Korea Midland Power tightened 10bp in secondary today [Friday],
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