Hana Bank prints $500 million benchmark deal

Hana Bank joins other Korean issuers in taking advantage of a steep yield curve to offer investors a higher coupon through a 5.5-year bond.

Korea's Hana Bank printed $500 million of senior unsecured debt early yesterday morning following a bookbuild that lasted about 24 hours. The 5.5-year Reg-S144A notes pay a fixed-rate coupon of 4.5% and were sold at a re-offer price of 99.836 to yield 4.534%. They were issued under the bank's existing $6 billion global medium-term note programme and will mature on October 30, 2015.

Hana followed the same pricing strategy as other Korean banks such as Shinhan Bank, Woori Bank, Export-Import Bank of Korea, Korea Development Bank and the Industrial Bank of Korea, which have all sold bonds with a 5.5-year maturity this year. The extension from a five-year...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222