Korea Hydro joins dollar bond push

State-run nuclear power plant operator joins its South Korean peers in the international bond market by issuing a $500 million five-year note.

Korea Hydro joins dollar bond push
When Ben Bernanke speaks: a flurry of Korean issuance has hit the market following last Wednesday's announcement from the US Federal Reserve that it will not yet begin withdrawing its bond purchases.

Korea Hydro Nuclear Power raised a $500 million five-year fixed-rate senior unsecured bond at a yield of 2.875% on Wednesday, following the footsteps of other local companies that have accessed international bond markets in recent weeks.

The bond from the subsidiary of Korea Electric Power was three times oversubscribed and priced 10bp tighter than its initial price guidance of 170bp over Treasuries, indicating strong market appeal for Korean corporate credit with nearly half of the...

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