Lotte taps US investors for first time for $400m bond
Lotte Shopping tapped US bond investors for the first time this week. That proved to be a wise decision, as the Korean retailer was able to price a $400m transaction without paying any new issue concession.
Lotte sold its first Reg-S/144A deal on Wednesday, pricing the five year notes at 260bp over Treasuries, in line with guidance and 3bp tighter than the secondary prices of the companys outstanding 3.875% April 2016 bond on a curve adjusted basis, said bankers on the deal.
Bookrunners BNP Paribas,
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