Korea Hydro bond sale sees $8 bln in orders-source

HONG KONG, June 9 | Mon Jun 8, 2009 10:01pm EDT

HONG KONG, June 9 (Reuters) - State-owned Korea Hydro and Nuclear Power received more than $8 billion in orders for its benchmark sale of five-year dollar bonds, and may price the debt as early as Tuesday, a source familiar with the deal said.

The unit of electricity provider Korea Electric Power Corp (KEPCO) (015760.KS) kicked off the sale of its senior unsecured bonds on Monday with guidance at around 400 basis points over U.S. Treasuries.

Korea Hydro has not yet given an indication of how much it will raise. Benchmark sales typically mean of at least $500 million.

The nuclear power generation company is in the midst of a roadshow that kicked off in Asia last week. Korea Hydro met investors in London on Monday, and is due to travel to New York on Tuesday and end the meetings in Boston on Wednesday.

Barclays Capital, Citigroup (C.N), Deutsche Bank (DBKGn.DE) and Goldman Sachs (GS.N) are managing the benchmark-sized sale. Korea Development Bank is also a co-lead manager. (Reporting by Rafael Nam; Editing by Jacqueline Wong)

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