Kepco lights up Europe

Korea Electric generates a buzz in Europe with first Euro-denominated bond.

ABN AMRO, Barclays and HSBC have launch the first Euro-denominated bond for Korea Electric Power Corp KEPCO in over six-years with a E250 million five-year deal that priced at the aggressive end of the deal's revised guidance.

Initially marketed to investors last week during roadshows at 35bp over mid-swaps, guidance was cut to 34bp-35bp over. After building strong momentum in early roadshows in Asia bankers opted to limit the investor book and offer attractive pricing for the issuer before taking it to European investors. Pricing was fixed at 99.854% on an annual coupon of 3.125% to yield 3.157%.

This equates to 34bp over mid-swaps, or 32.5bp...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222