Kepco postpones planned $180 million 0% bonds exchangeable into LG Uplus shares

By Rebecca Melvin

New York, Feb. 16 - Korea Electric Power Corp. has decided to postpone indefinitely a planned issue of $180 million zero-coupon bonds exchangeable into common shares of LG Uplus Corp. due to changes in external circumstances, including unfavorable market conditions, the company said in a filing with the Securities and Exchange Commission.

The Korean company had planned the placement with investors in Europe and Asia, and proceeds were to have been used for overseas natural resources development and other overseas businesses.

The bonds were to have been sold via J.P. Morgan Securities Ltd. and Credit Suisse Securities (Europe) Ltd. and listed on the Singapore Exchange.

Korea Electric is a Seoul, Korea-based power company.

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