Commentary & Deal Flow

Book Update: Orderbook over US$2.5bn (incl. US$50m JBR int.)
IPTs: 5yr: T+75a

• Issuer: Korea Expressway Corporation
• Issuer Ratings: Aa2/AA (Moody's/S&P)
• Expected Issue Ratings: Aa2/AA (Moody's/S&P)
• Format: 144A/Reg S
• Status: Senior Unsecured
• Size: US$ Benchmark
• Settlement Date: 06-May-26
• Tenor: 5-year
• Price Guidance: CT5+75bps area
• Listing: SGX
• Denominations: US$200k/1k
• Governing Law: New York Law
• Use of Proceeds: General Corporate Purposes
• Joint Bookrunners: BNP Paribas, Citigroup, HSBC(B&D), J.P. Morgan
• Expected Timing: Today’s business (during NY hours)