KT&G Raises $300M in Eurobonds at 65bp Spread, Second Forex Issuance

KT&G-1.03%
According to Yonhap Infomax, KT&G successfully issued $300 million in three-and-a-half-year fixed-rate Eurobonds on July 13, with a spread of 65 basis points over equivalent U.S. Treasury yields. The issuance attracted $2.1 billion in orders during the bookbuild process across Asian and European markets, enabling the company to tighten the initial guidance of 95bp. This marks KT&G's second Eurobond issuance, following its debut in April 2025, and reflects strong investor demand backed by the conglomerate's 37% overseas revenue contribution from tobacco, health supplements, and other business segments. The rating agencies Moody's and S&P rate KT&G at A- and A3, respectively.
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