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S.Korea KEPCO prices 5-yr bonds at tight end -source

Mon Jul 13, 2009 9:28pm EDT

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HONG KONG, July 14 (Reuters) - Korea Electric Power Corp (KEPCO) (015760.KS) has sold 5-year dollar bonds priced at a tight spread after the $500 million issue was subscribed over six times, a source close to the deal said on Tuesday.

It sold the bonds at a spread of 355 basis points (bps) over US Treasuries after indicating a yield of 362.5 bps initially.

The power utility appointed Morgan Stanley (MS.N), Goldman Sachs (GS.N), HSBC (0005.HK) and Royal Bank of Scotland (RBS.L) for the debt offering. (Reporting by Umesh Desai; Editing by Jonathan Hopfner)



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