New Issue: Korea’s Kookmin Bank sells $700 million of sustainability notes due 2025, 2027

By Cristal Cody

Chicago, Feb. 10 – Kookmin Bank sold $700 million of sustainability notes in two tranches on Wednesday, according to information from a market source.

The bank sold $400 million of 2 1/8% three-year notes with a spread of 60 basis points over Treasuries, 30 bps low to talk in the 90 bps area.

The bank also priced $300 million of 2 3/8% notes with a five-year tenor. Pricing with a spread of 70 bps over Treasuries, the notes came 30 bps low to talk in the 100 bps area.

BofA, Credit Agricole, HSBC, KB Securities, Mizuho, MUFG and Standard Chartered Bank sold the notes.

The lender is based in Seoul, South Korea.

Issuer:	Kookmin Bank
Amount:	$700 million
Issue:	Sustainability notes
Bookrunners:	BofA, Credit Agricole, HSBC, KB Securities, Mizuho, MUFG and Standard Chartered Bank
Trade date:	Feb. 9
Three-year notes
Amount:	$400 million
Maturity:	Feb. 15, 2025
Coupon:	2 1/8%
Spread:	Treasuries plus 60 bps
Price talk:	Treasuries plus 90 bps area
Five-year notes
Amount:	$300 million
Maturity:	Feb. 15, 2027
Coupon:	2 3/8%
Spread:	Treasuries plus 70 bps
Price talk:	Treasuries plus 100 bps area

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