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Kepco to issue $300 million 10-year notes
By Paul A. Harris and Reshmi Basu
New York, March 24 - Korea Electric Power Corp. plans to launch an offering of at least $300 million 10-year bonds (A3/A-), according to a market source.
The proceeds will be used to retire Japanese yen-denominated maturing debt.
The deal is expected to price in mid-April.
Kepco's subsidiary Korea East-West Power is planning to price a $200 to $250 million notes issue in April via Credit Suisse First Boston and Barclays Capital.
Another subsidiary Korea Midland Power Co. is expected to come to market with a $150 million notes offering, via Credit Suisse First Boston and JP Morgan.
Kepco, a Seoul-based power company, is the parent company of Korea South-East Power Co., Ltd., Korea Midland Power Co., Ltd., Korea Western Power Co., Ltd., Korea Southern Power Co., Ltd. and Korea East-West Power Co., Ltd.
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