Korea East-West Power launches $500 million bond

Korea East-West Power attracts strong demand for a five-year issue as other regional credits prepare to tap the bond markets.

Korea East-West Power launches $500 million bond
KEWP's 4,000MW Dangjin power station, the company's biggest plant

Despite the uncertainties and gyrations in international credit markets, it’s still possible for solid Asian borrowers to launch successful bond issues, as Korea East-West Power KEWP demonstrated yesterday.

The thermal power generation company, which is indirectly owned by the Korean government, managed to find an opportunity to raise $500 million while markets digested the latest attempt by policymakers to alleviate the European debt crisis.

Last week, Asia investment-grade bond spreads tightened by...

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