Bank holds investor roadshows in Shanghai and Beijing for the first time in line with China investment expansion

[Provided by Hana Bank]
[Provided by Hana Bank]

Hana Bank said Wednesday it had successfully issued $600 million in US dollar-denominated senior bonds.

The offering comprised fixed-rate notes with five-year and three-year maturities. The bank tightened the final spread by 0.30 percentage points on the five-year tranche and 0.33 percentage points on the three-year tranche from initial price guidance, setting the final coupon rates at 5.50 percent per annum and 5.25 percent per annum, respectively.

The issuance received credit ratings of A+ from S&P Global Ratings and Aa3 from Moody's.

Even after the final spread was set, investor demand reached $2.7 billion — 4.5 times the issuance size.

In line with growing offshore bond investment by institutional investors on the Chinese mainland, Hana Bank held non-deal roadshows in Shanghai and Beijing for the first time. The bank had previously issued $100 million in foreign-currency digital bonds last month.

"Even amid persistent uncertainty in global financial markets, we achieved a successful bond issuance on the back of strong interest and trust from overseas investors," an official from the bank's treasury division said. "We will continue to strengthen communication with global investors and steadily expand our investor base to enhance our capacity to raise stable foreign-currency funding."


hyuk@heraldcorp.com