knhc-raises-750-million-with-fiveyear-bond

KNHC raises $750 million with five-year bond

State-owned Korea National Housing Corporation is the latest, but not the last, Korean borrower to tap the US dollar market this year and achieves the lowest yield spread so far.

Korea National Housing Corporation KNHC yesterday joined the long list of Korean borrowers to tap the international capital markets this year, when it raised $750 million from a Reg-S five-year deal. It was the state-owned agency's first US dollar offering since late 2006.

KNHC is the first Korean issuer out of the blocks after a brief summer lull further deals are expected from Export-Import Bank of Korea this would be its third issue this year, Korea Expressway, Korea Railways and National Agricultural Cooperative Federation NACF.

Korea National Oil Corporation and Woori Bank raised $1 billion and $800 million respectively at the end of July. Since then, deals have been...

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