Korean banks prove herd instinct is intact

The Korean deal mill is churning, with Hana Bank having mandated banks for a global bond and Kexim and KDB expected to follow suit soon.

Like their Indian counterparts, Korean banks are prone to issuing as a herd. And, in coming weeks, they are expected to hit the debt capital markets in full force.

Hana Bank has mandated Barclays Capital, Citi, HSBC and Standard Chartered for a US dollar global bond. The Korean commercial bank is eyeing a Reg-S144a benchmark and could issue a five-year bond.

Hana Bank is the flagship subsidiary of Hana Financial Group, which in November last year agreed...

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