Kepco, Korea's state-controlled power utility, plans to launch a euro-denominated bond in the first half of this year. The company, which has $1.3 billion of foreign debt maturing this year, will refinance at least $800 million, says Myung Hwan Kim, Kepco's general manager in charge of borrowing.
He says that Kepco's board has already given approval to tap the international markets with a bond issue of around $300 million. Kim's preference is to launch a euro currency deal, which would suggest a size of around E230 million. He says the maturity has not been finalized, but it will be either five or 10 years.
It looks likely,...
