Korea’s KT Corp connects for new 10 year

Cable 230x150
By Rashmi Kumar
13 Jul 2016

South Korea’s KT Corp won over investors for 10 year paper on Tuesday, despite recent sharp movements in Treasury yields, as the borrower’s rarity value and industry strength proved attractive.

On first glance, the Baa1/A-/A- rated borrower’s trade looks like any other deal from a Korean issuer. Launched with initial guidance of 135bp over US Treasuries area, it managed to tighten guidance to 110bp-115bp over at around 5pm Hong Kong time before pricing at the tighter end to ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial