Published on 7/9/2012 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Korea East-West Power prices $500 million 2½% notes due 2017 at 195 bps spread
By Christine Van Dusen
Atlanta, July 9 - Korea East-West Power Co. Ltd. priced a $500 million issue of 2½% notes due July 16, 2017 (A1/A/) at 99.641 to yield Treasuries plus 195 basis points, a market source said.
Bank of America Merrill Lynch, Citigroup, HSBC, Morgan Stanley and UBS were the bookrunners for the Rule 144A and Regulation S deal.
Korea East-West Power is an electricity generator and supplier based in Seoul, South Korea.
| Issuer: | Korea East-West Power Co. Ltd.
|
| Amount: | $500 million
|
| Maturity: | July 16, 2017
|
| Description: | Senior notes
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup, HSBC, Morgan Stanley, UBS
|
| Coupon: | 2½%
|
| Price: | 99.641
|
| Spread: | Treasuries plus 195 bps
|
| Trade date: | July 9
|
| Settlement date: | July 16
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A (expected)
|
| Distribution: | Rule 144A and Regulation S
|
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