By Reshmi Basu
New York, June 18- KT Corp. priced $600 million of 10-year bonds (Baa1/A-) to yield 130 basis points over Treasuries, according to a market source.
The 5.875% bonds were priced at 98.65 to yield 6.075%.
KT Corp., a Sungnam, South Korea fixed-line telecommunications operator, will use proceeds to repay debt maturing next year.
Lead managers are JP Morgan, Deutsche Bank Securities.
The issue will be listed in the Singapore Stock Exchange.
| Issuer: | KT Corp.
|
| Amount: | $600 million
|
| Issue: | Fixed-rate overseas note
|
| Maturity: | June 24, 2014
|
| Coupon: | 5.875%
|
| Price: | 98.65
|
| Yield: | 6.057%
|
| Spread: | 130 basis points
|
| Settlement date: | June 24
|
| Lead managers: | JP Morgan, Deutsche Bank Securities
|
| Co-managers: | Goldman Sachs, Daiwa Securities
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
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