KNOC swerves euros and taps into dollars

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By Virginia Furness
03 Jul 2014

Korea National Oil Corp (KNOC) on Thursday tapped its 2019 bonds and added a new 10 year, bringing a total of $800m of new funding. And while there had been talk of the borrower following the Republic of Korea to the euro market, the pricing opportunity was not right.

While the issuer had met European investors in mid-June, raising expectations of a euro bond, leads said that the swap rate was not in its favour. But they added that had KNOC wished to tap that market, there would have been no problem in doing so. The issuer ...

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