NACF prices newest tier-2 deal despite choppy markets

With the international debt markets continuing their current streak of volatility BNP Paribas, Calyon and Merrill Lynch price the market's first deal in over two weeks.

South Korea's National Agricultural Cooperative Federation NACF priced its $400 million reg-S lower-tier 2 10-year bond offering via joint leads BNP Paribas, Calyon and Merrill Lynch. This deal marks the first dollar-denominated bond to come out of Asia since the HSBC-led Dah Sing subordinated debt deal on May 26.

The leads were able to upsize the deal from $300 million back to its originally enviisioned size on the back of a solid book. The deal had initially been marketed...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...