By Reshmi Basu
New York, July 13 - Korea Southern Power (KOSPO) priced $150 million of 10-year notes (A3/A-) at 99.221 to yield Treasuries plus 138 basis points, according to a market source.
The deal came at the lower end of price guidance of Treasuries plus 138 to 143 basis points.
Korea Southern is a subsidiary of Korea Electric Power Co. (KEPCO).
Barclays Capital and ABN Amro Holding NV were bookrunners for the Regulation S deal.
Issuer: Korea Southern Power
| Amount: | $150 million
|
| Issue: | Bonds
|
| Maturity: | July 21, 2014
|
| Coupon: | 5¾%
|
| Issue price: | 99.221
|
| Yield: | 5.85%
|
| Spread: | 138 basis points over Treasuries
|
| Pricing date: | July 13
|
| Settlement date: | July 21
|
| Bookrunners: | Barclays Capital, ABN Amro Holding NV
|
| Ratings: | Moody's: A3
|
| Standard and Poor's: A-
|
| Price guidance: | 138 to 143 basis points over Treasuries
|
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