By Cristal Cody
Chicago, April 29 – Korea’s Kookmin Bank sold $500 million of 1 3/8% sustainability bonds due May 6, 2026 (Aa3) on Wednesday, according to a market source.
The notes sold at a spread of Treasuries plus 30 basis points, low to initial price talk in the 85 bps area over Treasuries.
BofA Securities, Credit Agricole CIB, HSBC, Kookmin Bank, Societe Generale and Standard Chartered were bookrunners for the offering.
Proceeds, according to Moody’s Investors Service, will finance loans falling under green or social eligible categories.
The lender is based in Seoul, South Korea.
| Issuer: | Kookmin Bank
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| Issue: | Sustainability bonds
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| Amount: | $500 million
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| Maturity: | May 6, 2026
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| Bookrunners: | BofA Securities, Credit Agricole CIB, HSBC, Kookmin Bank, Societe Generale and Standard Chartered
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| Coupon: | 1 3/8%
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| Spread: | 30 bps over Treasuries
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| Trade date: | April 29
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| Rating: | Moody’s: Aa3
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| Price talk: | Treasuries plus 85 bps area
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