South Korea’s top mobile operator SK Telecom has raked a total of $332.5 million in a sale of five-year bonds, in the year’s maiden overseas convertible paper out of Asia and Europe.

The trading is believed to have been warmed up by the U.S. Federal Reserve'''s Wednesday announcement of aggressive new steps to ease credit-market conditions, pushing down U.S. Treasury yields thus, enabling issuers to offer lower coupons.

The bonds, with a 23 percent conversion premium is traded to refinance its earlier convertible bond that matures in May, said the company.

The new bond carries a coupon of 1.75 percent and can be converted into the company's common stocks at 230,010 won each, between May 18, 2009 and March 24, 2014.

The sale of bonds is projected as major impetus in contributing to the improvement of Korea's international credit standing while creating a favorable condition for Korean companies in raising capital overseas, said SK Telecom Chief Executive and President Man-Won Jung.