Korean Air subsidiary debuts $300m bond

Hanjin International’s inaugural dollar floating rate note prices 20bp tighter than closest comparables as investors prep for a rising rate environment.

Korean Air subsidiary debuts $300m bond
Hanjin International, the US-based subsidiary of Korean Air

Hanjin International sold a $300 million three-year floating rate bond on Thursday, issuing it off the back of Korea Hydro’s recent offering and riding on the country’s safe haven status.

The Reg S-registered notes guaranteed by state-owned Korea Export-Import Bank priced 15bp to 20bp tighter than its closest comparables as investors were keen to hold instruments of the US-based subsidiary of Korean Air.

Floating rate notes are a small part of...

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