Korea South-East Power postpones $300 million notes offering

By Paul A. Harris

Portland, Ore., July 13 - Trailing unsuccessful attempts to price $300 million of bonds on Monday and Tuesday, Korea South-East Power Ltd. (Kosep) abandoned the effort, market sources said on Wednesday.

Price talk on the 5.5-year senior notes (A1/A) ended at Treasuries plus 230 basis points, up from initial talk of Treasuries plus 215 bps.

Citigroup, Goldman Sachs and Morgan Stanley were the bookrunners.

Proceeds were to have been used to purchase fuels and make capital investments.

Kosep is a unit of Korea Electric Power Corp.

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