Hana Bank said on the 14th that it had sold a combined $600 million of U.S. dollar-denominated senior bonds.
The deal consisted of fixed-rate tranches with five-year and three-year maturities. The five-year notes priced at 5.50% and the three-year notes at 5.25%, down 0.30 percentage points and 0.33 percentage points, respectively, from initial price guidance. Standard & Poor's assigned the bonds an "A+" rating and Moody's rated them "Aa3."
Even after final pricing, orders held at $2.7 billion, or 4.5 times the issue size, which the bank said demonstrated its stable access to foreign-currency funding.
Ahead of the sale, Hana Bank held its first non-deal roadshow in mainland China. The bank met major local institutional investors in Shanghai and Beijing to line up new demand.
"Even with continued uncertainty in global financial markets, we completed a successful bond sale on the back of strong interest and trust from overseas investors," an official at Hana Bank's treasury department said. "We will keep strengthening communication with global investors and steadily broaden our investor base to enhance our ability to secure foreign-currency funding on stable terms."