Hana Bank prints $500 million benchmark deal

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...