Shinsegae retails $300m perpetual bond

The Korean department store operator sells the nation's first dollar hybrid this year, tapping global debt markets while the nation’s local market remains shut.

Shinsegae retails $300m perpetual bond

Department store operator Shinsegae sold a maiden $300 million perpetual bond that is callable in year five late on Tuesday, marketing the instrument during a national holiday and keeping the Korean pipeline flowing after a weak start to the year.

Guaranteed by Kookmin Bank, Korea’s largest bank by assets, the A rated hybrid notes priced with a yield spread of US Treasuries plus 125 basis points, which is 25bp tighter than the initial price...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: shinsegae | consumer | bonds | investment grade | korea

Print Edition

FinanceAsia Print Edition