Korean banks prove herd instinct is intact

The Korean deal mill is churning, with Hana Bank having mandated banks for a global bond and Kexim and KDB expected to follow suit soon.

Like their Indian counterparts, Korean banks are prone to issuing as a herd. And, in coming weeks, they are expected to hit the debt capital markets in full force.

Hana Bank has mandated Barclays Capital, Citi, HSBC and Standard Chartered for a US dollar global bond. The Korean commercial bank is eyeing a Reg-S144a benchmark and could issue a five-year bond.

Hana Bank is the flagship subsidiary of Hana Financial Group, which in November last year agreed to acquire US buyout fund Lone Star’s 51.02% stake in Korea Exchange Bank KEB. Hana Financial Group will pay up to W4.7 trillion $4.1 billion for the majority stake with the financing coming partly...

¬ 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