Strong Korea bid sends GS Caltex inside existing curve

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By Isabella Zhong
12 Jun 2014

GS Caltex returned to the dollar market on Wednesday with a five year bond that was priced inside the issuer’s existing curve on the back of strong investor appetite for Korean credits.

Bookrunners Bank of America Merrill Lynch, BNP Paribas, Citi and Morgan Stanley opened books with initial price thoughts for the Reg S/144A transaction at 160bp area over Treasuries on Wednesday morning. At launch, deal size was capped at $400m. 

Final guidance was tightened to the 135bp-140bp over ...

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