KOGAS raises US$800 mln via foreign-currency debt sale

SEOUL-- The state-run utility firm, the Korea Gas Corp. (KOGAS), said Friday that it has raised US$800 million by selling bonds overseas, with part of the cash to be used for the repayment of debts.

KOGAS said the bond sale is split into two tranches -- 5-year debt worth $400 million and 10-year bonds worth the same amount.

It said global demand for the debt sale was strong, making the sale possible.

In a book building process for institutional investors, orders for the debt sale more than doubled, according to the utility company.

Source: Yonhap News Agency

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