Hana Bank and Uniflora postpone bond deals

Hana Bank postpones its bond sale due to price sensitivity, while Uniflora gets considerable pushback from investors questioning its links to Davomas.

Amid volatile markets, Korean lender Hana Bank yesterday decided to postpone its 5.5-year dollar benchmark as investors turned risk averse after Standard Poor’s cut its outlook on the US from stable to negative.

Hana Bank had earlier gone out with a price whisper at Treasuries plus low-200bp, but, according to a banker, postponed the deal due to concerns over pricing. However, market participants expect the borrower could revisit the bond markets after the Easter holiday.

The Korean bank had ended global roadshows covering the US, London, Singapore and Hong Kong on April 7. Barclays Capital, Citi, Hana Daetoo Securities, HSBC and Standard Chartered were mandated on...

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