Korea Gas quenches dollar thirst with juicy spreads

Korea Gas Corporation hit all the right spots to lure cautious debt investors into its $500m five year deal, which helped the leads amass the largest order book for a South Korean issuer this year.

  • By Lorraine Cushnie
  • 23 Jul 2013

The state-owned issuer sold the Reg S/144A deal on July 22, satisfying investor cravings for high quality names in five year tenors. Investors have been buying five year names in secondary trading in the past few weeks, according to banker on the deal.

Korea Gas announced initial price ...

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European Sovereign Bonds

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2 HSBC 16,094.53 24 7.64%
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4 BNP Paribas 15,919.65 22 7.55%
5 Goldman Sachs 14,733.99 25 6.99%

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4 Bank of America Merrill Lynch 34,298.88 106 7.45%
5 Deutsche Bank 31,212.00 75 6.78%

Bookrunners of Euro Denominated SSA (Excl US Agency)

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4 Goldman Sachs 31,906.26 88 6.62%
5 BNP Paribas 31,647.57 69 6.57%

Bookrunners of Global SSA (Excl US Agency)

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3 HSBC 82,143.66 301 6.23%
4 Barclays 67,551.66 221 5.13%
5 Bank of America Merrill Lynch 66,801.88 220 5.07%