Kowepo returns to bonds after long break, prices tight
Korea Western Power (Kowepo) drew around $3bn of demand for its return to the international bond market after nearly six years absence, allowing the electricity supplier to price a $500m deal late last week inside its outstanding curve.
Kowepo priced the five year notes at 235bp over Treasuries, the tight end of final price guidance and inside its outstanding 5.50% September 2016 bond, which was trading at G-spread of 239bp when the transaction was launched on Thursday morning, said bankers in the deal.
The bond also priced
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