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’s floater outperformed in the secondary markets, tightening to three-month Libor plus 109bp.
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.

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