By Cristal Cody
Chicago, Jan. 25 – Korea Electric Power Corp. (Kepco) sold $1.2 billion of 4 7/8% green notes due 2027 (Aa2/AA) on Wednesday, according to a market source.
The notes priced at Treasuries plus 80 basis points, 35 bps lower than talk in the 115 bps area.
BofA, Citigroup, Mizuho and Standard Chartered Bank were the bookrunners.
Proceeds will be used for green projects, according to ratings releases regarding the notes.
The issuer is a Seoul-based electric utility.
| Issuer: | Korea Electric Power Corp.
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| Amount: | $1.2 billion
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| Issue: | Senior green notes
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| Maturity: | Jan. 31, 2027
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| Bookrunners: | BofA, Citigroup, Mizuho and Standard Chartered Bank
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| Coupon: | 4 7/8%
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| Spread: | Treasuries plus 80 bps
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| Trade date: | Jan. 24
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| Ratings: | Moody’s: Aa2
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| S&P: AA
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| Price talk: | Treasuries plus 115 bps area
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