Korea Southern Power launches five-year benchmark Kangaroo FRN

Korea Southern Power (Aa2/AA-) launched a new five-year, senior-unsecured, benchmark Kangaroo floating-rate note (FRN) on 23 October. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 100 basis points area over three-month bank bills. BNP Paribas, HSBC and Nomura are leading.