Korea East-West Power, KT Each Raise $500M in Dollar Bonds; Spreads Narrow to 58bp and 55bp

According to investment banking industry sources, South Korea's Korea East-West Power and KT each raised $500 million in dollar bonds on July 6. East-West Power issued 5.5-year fixed-rate bonds at a spread of 58 basis points over comparable U.S. Treasury yields, tightening 32bp from initial guidance. KT's 3.5-year offering priced at 55bp, also 30bp tighter than initial guidance. Both issuers received orders exceeding their fundraising targets, though demand accumulation showed signs of slowing compared to earlier Korean won-denominated debt activity amid rising investor rate sensitivity.
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