By Christine Van Dusen
Atlanta, July 22 - Korea South-East Power Co. (Kosep) sold $300 million 3 5/8% notes due Jan. 29, 2017 (A1/A/) at 99.247 on Friday to yield Treasuries plus 225 basis points, a market source said.
The notes priced at the low end of talk, which was set at Treasuries plus 225 bps to 230 bps.
Citigroup, Goldman Sachs and Morgan Stanley were the bookrunners for the Regulation S deal.
This followed the July 13 news that Kosep was abandoning a similar offering, which was talked at Treasuries plus 230 bps.
Kosep is a unit of Korea Electric Power Co.
| Issuer: | Korea South-East Power Co.
|
| Amount: | $300 million
|
| Maturity: | Jan. 29, 2017
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Goldman Sachs, Morgan Stanley
|
| Coupon: | 3 5/8%
|
| Price: | 99.247
|
| Spread: | Treasuries plus 225 bps
|
| Trade date: | July 22
|
| Settlement date: | July 29
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 225 bps to 230 bps
|
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