By Aleesia Forni
Virginia Beach, Sept. 17 – Korea Western Power Co. Ltd. sold $300 million of 2.625% five-year notes at Treasuries plus 92.5 basis points, a market source said.
Pricing was at 99.494 to yield 2.734%.
Barclays, BofA Merrill Lynch and Standard Chartered Bank were the bookrunners.
The company plans to use the proceeds for general corporate purposes, including capital expenditures, working capital and refinancing, according to a Moody’s Investors Service news release.
Korea Western engages in the production and supply of electricity and has headquarters in Seoul, South Korea.
| Issuer: | Korea Western Power Co. Ltd.
|
| Amount: | $300 million
|
| Description: | Notes
|
| Maturity: | Sept. 22, 2019
|
| Bookrunners: | Barclays, BofA Merrill Lynch, Standard Chartered Bank
|
| Coupon: | 2.625%
|
| Price: | 99.494
|
| Yield: | 2.734%
|
| Spread: | Treasuries plus 92.5 bps
|
| Trade date: | Sept. 15
|
| Settlement date: | Sept. 22
|
| Price talk: | Treasuries plus 95 bps area
|
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