Korea Water stays liquid with $130m three year bank loan
Korea Water Resources Corp (K-Water) has signed a $130m floating rate note through BNP Paribas, Calyon and Standard Chartered, becoming the latest South Korean borrower to turn to the offshore loan market for funding.
BNP Paribas and Standard Chartered each took a $50m ticket, while Calyon pledged the remaining $30m.
The three year deal for the government-owned dam building and water management company pays a margin of 275bp over three month Libor. Fees on the loan were not disclosed.
South Korean borrowers have
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