Hana Bank sells aggressively priced floater

The Seoul-based financial group follows Kookmin’s footsteps in issuing a floating rate note, pricing it deep into its existing credit curve.

Hana Bank sells aggressively priced floater
Hana Bank’s floater outperformed in the secondary markets, tightening to three-month Libor plus 109bp.

Hana Bank priced a $300 million three-year floating senior unsecured note issue on Monday after Kookmin sold a similar note a month earlier, pricing aggressively inside its curve as investors flocked to the rarely issued instrument.

The 144aReg S note had an initial price guidance of three-month dollar Libor plus 135bp but ended up pricing at the tight end of the lead managers' final guidance at 112.5bp above Libor, a source familiar with...

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