Korea Hydro to sell benchmark dlr bonds -source
HONG KONG, June 2 |
HONG KONG, June 2 (Reuters) - State-owned Korea Hydro and Nuclear Power (KHNP) is looking to sell a benchmark dollar bond and will meet with debt investors starting this week, a source with direct knowledge of the plans said on Tuesday.
The unit of Korea Electric Power Corp (KEPCO) (015760.KS) will kick off its meetings with investors in Hong Kong on Thursday, and will travel to Singapore, London, and New York, before concluding its roadshow in Boston on June 10, said the source.
A bechmark dollar bond offering, typically of at least $500 million, will follow pending market conditions, the source added, declining to be identified because the plan had not been formally announced yet.
The nuclear power operator is rated "A" by Standard & Poor's, "A2" by Moody's Investors Service and "A-plus" by Fitch Ratings, all in line with the agencies sovereign ratings for South Korea.
Barclays Capital, Citigroup (C.N), Deutsche Bank (DBKGn.DE) and Goldman Sachs (GS.N) are managing the sale. (Reporting by Rafael Nam; Editing by Jonathan Hopfner)
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