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KOSPO cuts guidance for $300 mln 5-yr bonds-source

Thu Apr 10, 2008 11:05pm EDT

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HONG KONG, April 11 (Reuters) - Korea Southern Power Co (KOSPO) cut its guidance for a sale of $300 million five-year bonds to 208-212 basis points over mid-swaps, from around 220 basis points provided a day earlier, a source familiar with the deal said on Friday.

Guidance was set at 210 basis points over mid-swaps, and may move up or down 2 basis points, said the source, who was not authorised to talk publicly to the media about the transaction.

KOSPO, a unit of electricity provider Korea Electric Power Corp (015760.KS), finished a global roadshow for the deal in New York on Thursday. The deal could price as early as Friday.

ABN AMRO, Citigroup (C.N) and Deutsche Bank (DBKGn.DE) are the underwriters for the deal. (Reporting by Rafael Nam; Editing by Edmund Klamann)



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