By Christine Van Dusen
Atlanta, Sept. 9 - Korea Hydro & Nuclear Power Co. priced $500 million 3 1/8% notes due Sept. 16, 2015 (A1/A/) at 98.754 to yield 3.398%, or Treasuries plus 185 basis points, an informed market source said.
Bank of America Merrill Lynch, Citigroup, Deutsche Bank and HSBC Holdings were the bookrunners for the Rule 144A and Regulation S deal, which was talked at the Treasuries plus 190 bps area.
Proceeds will be used for general corporate purposes and to fund a three-month bridge loan.
Korea Hydro & Nuclear Power is a unit of Korea Electric Power Corp., a Seoul-based electric utility.
| Issuer: | Korea Hydro & Nuclear Power Co.
|
| Amount: | $500 million
|
| Maturity: | Sept. 16, 2015
|
| Description: | Notes
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup, Deutsche Bank, HSBC Holdings
|
| Coupon: | 3 1/8%
|
| Price: | 98.754
|
| Yield: | 3.398%
|
| Spread: | Treasuries plus 185 bps
|
| Trade date: | Sept. 9
|
| Settlement date: | Sept. 16
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | Treasuries plus 190 bps area
|
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