By Aaron Hochman-Zimmerman
New York, June 10 - Korea Hydro & Nuclear Power Co. Ltd. priced $1 billion of five-year senior unsecured notes a spread of Treasuries plus 362.5 basis points, according to a market source.
The debt (A2/A) came to market with a coupon of 6¼% and priced at 98.935 to yield 6.503%.
The bonds priced tighter than original guidance, which was set in the Treasuries plus 400 bps area.
Barclays, Citigroup, Deutsche Bank and Goldman Sachs acted as bookrunners for the Rule 144A and Regulation S deal.
Korea Hydro & Nuclear Power Co. Ltd. is a Seoul-based government-run energy firm.
Issuer: Korea Hydro & Nuclear Power Co. Ltd.
Issue: Senior unsecured notes
| Amount: | $1 billion
|
| Maturity: | June 17, 2014
|
| Coupon: | 6¼%
|
| Price: | 98.935
|
| Yield: | 6.503%
|
| Spread: | Treasuries plus 362.5 bps
|
| Bookrunners: | Barclays, Citigroup, Deutsche Bank, Goldman Sachs
|
| Pricing date: | June 10
|
| Settlement date: | June 17
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Distribution: | Rule 144A, Regulation S
|
| Price talk: | Treasuries plus 400 bps area
|
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