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KEB Hana Bank issues US$425M Formosa bonds

KEB Hana Bank issued US$425 million of Formosa bonds Feb. 23, Money Today reported Feb. 26.

The five-year notes were priced at 0.80% over the three-month LIBOR, the lowest coupon rate for such bonds issued by a South Korean bank.

The issuance however attracted the highest amount of bids for Formosa bonds among South Korean banks, after 50 institutional investors placed orders totaling US$1.07 billion.

Credit Agricole SA and Citigroup Inc. executed the deal as joint lead managers.