By Aleesia Forni
Virginia Beach, Sept. 25 - Korea Hydro & Nuclear Power Co. Ltd. priced $500 million of 2 7/8% notes (A1/A+/) due 2018 on Wednesday with a spread of Treasuries plus 160 basis points, according to an informed source.
The notes priced at the tight end of the Treasuries plus 160 bps to 165 bps talk.
The deal sold at 99.405 to yield 2.892%.
Citigroup, Deutsche Bank, Goldman Sachs and UBS were the joint bookrunners.
Korea Hydro is a Seoul, South Korea-based subsidiary of Korea Electric Power Corp.
| Issuer: | Korea Hydro & Nuclear Power Co. Ltd.
|
| Amount: | $500 million
|
| Description: | Notes
|
| Maturity: | Oct. 2, 2018
|
| Bookrunners: | Citigroup, Deutsche Bank, Goldman Sachs, UBS
|
| Coupon: | 2 7/8%
|
| Price: | 99.405
|
| Yield: | 2.892%
|
| Spread: | Treasuries plus 160 bps
|
| Trade date: | Sept. 25
|
| Settlement date: | Oct. 2
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Price talk: | Treasuries plus 160 bps to 165 bps
|
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