Massive demand for KHNP's $1 billion bond issue

State-owned Korea Hydro Nuclear Power meets strong demand for its five-year notes, allowing it to double the size and issue at the tight end of late price guidance.

Korea Hydro Nuclear Power KHNP, a unit of state-run Korea Electric Power Corporation Kepco, priced a $1 billion five-year bond issue early this morning Hong Kong time at the tight end of late price guidance.

Despite the fact that Korean investors were excluded from the primary offering, the deal attracted around $8 billion worth of orders, led by a hefty bid from Asian accounts, according to people familiar with the deal. Irresistible momentum gathered, and the...

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