Builder raided in bribery probe

Korea South-East Power signs $300m loan wih 7 banks

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Published : 2012-05-03 14:49
Updated : 2012-05-03 14:49

Korea South-East Power Co., which operates thermal power stations in Korea, borrowed $300 million in a facility which matures in 2 1/2-years, according to an e- mailed statement.

The loan, which is structured as a floating-rate style note, was signed with Australia & New Zealand Banking Group Ltd., Citigroup Inc., DBS Group Holdings Ltd., HSBC Holdings Plc., Mizuho Financial Group Inc., Sumitomo Mitsui Banking Corp. and United Overseas Bank Ltd. on May 2, according to Thursday’s statement.

Korea South-East Power Co. paid a rate of 150 basis points more than the London interbank offered rate for the facility, according to the statement. (Bloomberg)

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