Capped Korea Hydro deal sees price flexibility

State-run power plant operator paid zero new premium for its latest $300m bond, defying global growth fears as credit spreads remain volatile

Capped Korea Hydro deal sees price flexibility

Korea Hydro and Nuclear Power, a subsidiary of state-owned Korea Electric Power Corp, raised a capped $300 million five-year bond late on Tuesday night, pricing the instrument at its final price guidance.

The 144AReg S-registered offering defied global growth fears, which have prompted new bond issuers to pay up as was the case with Hebei Iron Steel’s debut $500 million three-year bond on Monday as investors demand compensation for the recent increase in market...

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