By Paul A. Harris
St. Louis, July 19 - Korea Electric Power Corp. (Kepco) priced a €250 million issue of 3 1/8% five-year notes (A2/A-) at 99.854 on Tuesday to yield 3.157%, according to a syndicate source.
The yield came at a 34 basis point spread to mid-swaps, tight to the revised price talk of mid-swaps plus 34 to 35 basis points. The notes had initially been talked at a 35 basis point spread.
ABN Amro, Barclays Capital and HSBC ran the books.
The electrical power distributor is based in Seoul.
| Issuer: | Korea Electric Power Corp. (Kepco)
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| Amount: | €250 million
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| Maturity: | July 26, 2010
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| Bookrunners: | ABN Amro, Barclays Capital, HSBC
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| Coupon: | 3 1/8%
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| Price: | 99.854
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| Yield: | 3.157%
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| Spread: | Mid-swaps plus 34 basis points
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| Trade date: | July 19
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| Settlement date: | July 25
|
| Ratings: | Moody's: A2
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| Standard & Poor's: A-
|
| Price talk: | Mid-swaps plus 34-35 bps, revised from mid-swaps plus 35 bps
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