hana-wraps-up-new-lower-tier-2-deal

Hana wraps up new lower tier 2 deal

Barclays, BNP Paribas and Deutsche close most recent Korean bank capital transaction.
Barclays, BNP Paribas and Deutsche have priced a new 10 non-call five-year lower-tier 2 subordinated bond for Hana Bank.

Late Thursday September 7 the leads priced the $400 million Reg-S deal at the tight end of revised price guidance.Having set out on roadshows on September 4 with an indicative range of 75bp to 80bp over mid swaps, guidance was tightened to 72bp to 73bp over.

Final pricing for the Baa1BBB deal came at 99.68%, on a coupon of 5.875% offering a yield of 5.95%, equivalent to 72bp over mid-swaps, 69.5bp over US dollar Libor or 119.3bp over US Treasuries. The notes step up to 219.3bp over Treasuries if not called.

The notes are being...
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