Hana Bank

Hana Bank issues $500 million tightly-priced three-year bond

Hana joins the roster of Korean borrowers keen to tap strong investor demand.
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Issuance from Korea has boomed during the start of 2013
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<div style="text-align: left;"> Issuance from Korea has boomed during the start of 2013 </div>

Low interest rates and receptive investors keen to diversify credit exposure have created favourable conditions for Asian borrowers this month. While the high-yield sector has been dominated by Chinese property companies, Korean names have featured strongly among investment-grade borrowers.

Hana Bank was the latest to raise US dollar funding, with a $500 million issue launched on January 29.

It was the biggest three-year US dollar global bond by a Korean commercial bank since June 2009 as well as achieving the lowest re-offer US Treasury spread for such entities, accessible to onshore US investors, since September 2005.

Korean issuers have been busy during the first...

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