Suhyup Bank moves closer to bond sale, announces guidance

13 Jul 2009

Suhyup Bank, part of Korea’s National Federation of Fisheries Cooperatives, is planning to sell bonds worth $300m-$500m on Tuesday after releasing price guidance for the deal on Monday.

BNP Paribas, Samsung Securities, Standard Chartered and UBS have set guidance for the five year deal at 425bp-450bp over Treasuries, firmed up from earlier whispers of the “mid 400s”.

Investors and analysts said this was an attractive spread for a bond which comes with a letter of support from ...

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