Appetite dims for Korean bonds

Korea Western Power struggles to attract investors for what may turn out to be Asia''s last international bond offering of 2002.

Jackie Horne

December 05, 2002

Lead managers ABN AMRO and Lehman Brothers finally priced a $150 million Reg S deal for Korea Western Power (Kowepco) on Friday, a week later than the market was originally anticipating. Virtually all market participants believe the deal brings 2002 to a dispiriting close and for the five gencos lined up behind it, pricing marks an inauspicious debut for a new issuance sector.

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