Korea resets benchmarks for home bond issuers | korea, bnp paribas, financial institution of america, citigroup, jp morgan, mirae asset daewoo, normal chartered, kexim

Korea resets benchmarks for home bond issuers | korea, bnp paribas, financial institution of america, citigroup, jp morgan, mirae asset daewoo, normal chartered, kexim

The Republic of Korea noticed huge demand final week for its $1.45 billion dual-currency bond and, reflecting the liquidity out there, grew to be

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The Republic of Korea noticed huge demand final week for its $1.45 billion dual-currency bond and, reflecting the liquidity out there, grew to become the primary non-European issuer to cost with a unfavorable yield.

Buyers flooded in for the SEC-registered $625 million 10-year paper and 700 million $825 million five-year bonds, certainly last books hit $3.6 billion for the US greenback tranche and 5.5 billion for the euro piece.

This allowed the deal to be upsized from an authentic $500 million and 500 million, however a $1.5 billion cap from the Korean authorities meant that it couldn’t be elevated any additional.

“The principle…


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