KCC Secures 6.8x Oversubscription for 2 Trillion Won Bond Offering

According to Yonhap Infomax, South Korean chemical company KCC received 13.85 trillion won in demand for its 2 trillion won corporate bond offering on July 23, achieving a 6.8x oversubscription rate. The offering included 800 billion won of 2-year notes attracting 6.85 trillion won in orders and 1.2 trillion won of 3-year notes receiving 7 trillion won in demand. The 2-year tranche priced at a 5 basis point spread versus peer rates, while the 3-year tranche came in 4 basis points tighter. Proceeds will be used to refinance 2.1 trillion won in short-term debt maturing through October.
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