Korea Western Power’s $300 Million Green Bond Offering

Cleary Gottlieb represented Citigroup, Crédit Agricole CIB, and Mizuho Securities, as joint bookrunners, in a Reg S offering by Korea Western Power Co. Ltd. (KOWEPO) of $300 million 4.125% green bond notes due 2025.

The notes were listed on the Singapore Exchange. The offering priced on June 21, 2022, and closed on June 28, 2022.

KOWEPO was established in 2001 as one of six wholly owned generation subsidiaries of Korea Electric Power Corporation (KEPCO). KEPCO is currently the sole electricity transmission and distribution company in Korea and is listed on the NYSE.