By Rebecca Melvin
New York, Oct. 25 – Korea Housing Finance Corp. priced €500 million of 0.75% covered bonds due Oct. 30, 2023 (Aa1) on Wednesday to yield mid-swaps plus 40 basis points, according to a market source.
Pricing was at the tight end of guidance of mid-swaps plus 40 bps to 45 bps and tighter than initial price talk in the mid-swaps plus 50 bps area.
Orders at the time guidance was released stood at more than €1.5 billion.
BNP Paribas (billing and delivery), DBS Bank Ltd., ING and Societe Generale were joint lead managers for the Rule 144A and Regulation S securities.
The housing finance company is based in Seoul, South Korea.
| Issuer: | Korea Housing Finance Corp.
|
| Amount: | €500 million
|
| Maturity: | Oct. 30, 2023
|
| Securities: | Senior notes
|
| Bookrunners: | BNP Paribas (billing and delivery), DBS Bank Ltd., ING and Societe Generale
|
| Coupon: | 0.75%
|
| Spread: | Mid-swaps plus 40 bps
|
| Trade date: | Oct. 24
|
| Settlement date: | Oct. 30
|
| Rating: | Moody's: Aa1
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Guided to mid-swaps plus 40-45 bps, from initial talk at mid-swaps plus 50 bps area
|
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