komipo-prices-first-corporate-bond-this-year

Komipo prices first corporate bond this year

Rival bankers argue that the bonds were sold too cheap, but secondary performance vindicates the pricing.
The regionÆs first corporate bond issue this year priced last Friday when Korea Midland Power Komipo brought a $300 million Reg-S transaction to market through Barclays Capital, Citi and Goldman Sachs.

The transaction, which was initially targeted at between $200 million and $300 million, priced ahead of the non-farm payroll report in the US and just prior to the week of Chinese New Year, garnering $1.2 billion worth of orders.

It was a pretty tough week. We had the FOMC meeting on Wednesday, the non-farm payroll report on Friday and Chinese New Year this week, says a banker close to the deal. So it was a narrow window that we managed to squeeze into. In...
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