Busan Bank sells first dollar bonds since 2012

The Korean lender's $250 million offering draws more than $2.3 billion of orders, highlighting ongoing search for yields.

Busan Bank sells first dollar bonds since 2012

Korean lender Busan Bank has issued its first US-denominated bond in more than four years, paying investors a decent new issue premium for its 10-year subordinated capital.

The Basel III-compliant Reg S deal comes after China's largest lender ICBC sold an alternative tier-1 bond last week, when it raised $1 billion in a perpetual non-call five structure. 

Busan Bank captured a peak order book of $2.3 billion, primarily...

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