Bear Stearns To Raise $300MN In US Bonds In South Korean Market

The Korea Times reported that Bear Stearns has finalized plans to offer US$300 million in bonds in South Korea next week. This would be the first instance of a foreign company floating U.S. dollar-denominated debt in the South Korean market. Bear Stearns has appointed Woori Investment & Securities as lead managers for the bond issuance. The unsecured seven-year bonds carry an interest rate of 0.23 percentage points over the three-month LIBOR. The Financial Supervisory Service announced that the bonds would be listed on the domestic bourse.