The pricing of the deal, at 43bp over one-month Libor, represents a significant hike in spreads. Before the summer, investors were willing to pick up Korean cross-border deals for around 12bp over Libor. Even so, a source close to the transaction says that Samsung Card is still getting relatively cheap funding thanks to the favourable swap rate back into won.
Indeed, LG Card also has a $500 million deal in the pipeline, led by BNP Paribas and JP...
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