Kia Motors re-prices Korean yield curve

A tightly priced dollar issue by Kia Motors has set a precedent for the non-investment grade sector in Korea.

Jackie Horne

July 04, 2001

In what represents the first non-investment grade bond deal by a Korean corporate, Kia Motors has raised $200 million from international investors. A five-year fixed rate deal was priced last night (Tuesday) via lead manager Credit Suisse First Boston at nearly 200bp inside the comparably rated Korean sub debt sector.

Priced at 99.263%, a BB-/Ba3-rated issue for Kia Motors carries a coupon of 9.375% to yield 9.564%, or 470bp over Treasuries. KDB Asia acted as co-lead.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.