Kospo breaks market deadlock

Kospo raises $300 million in the first Asian dollar deal since early February, pricing at the tight end of revised guidance and attracting $1.65 billion in orders.

Korea Southern Power Kospo broke the deadlock in Asian primary markets on Friday when it issued a $300 million Reg-S 144A five-year bond, attracting a total of $1.65 billion in orders. ABN AMRO, Deutsche Bank and Citi managed the transaction.

The deal launched just ahead of economic data reports due out this week, including two inflation indicators û the producer price index and the consumer price index û and earnings reports from JPMorgan, Merrill Lynch and Citi.

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