By Rebecca Melvin
New York, Feb. 1 – South Korea’s Kookmin Bank priced $450 million of 10-year tier 2 sustainability subordinated bonds (Baa1/BBB+) with a 4˝% coupon on Friday, according to an announcement.
Citigroup, HSBC, Societe Generale CIB, Standard Chartered Bank and UBS were joint bookrnners for the Regulation S deal, which followed a series of fixed-income investor meetings in Asia and Europe.
The proceeds will be used by the bank to provide loans compliant with its sustainable financing framework developed last September.
Kookmin Bank is a lender based in Seoul.
| Issuer: | Kookmin Bank
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| Issue: | Tier 2 sustainability subordinated bonds
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| Amount: | $450 million
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| Maturity: | Feb. 1, 2029
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| Bookrunners: | Citigroup, HSBC, Societe Generale CIB, Standard Chartered Bank and UBS
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| Coupon: | 4˝%
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| Trade date: | Feb. 1
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| Expected ratings: | Moody’s: Baa1
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| S&P: BBB+
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| Distribution: | Regulation S
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