Korea Housing plans meetings starting Monday for social covered bonds

Chicago, Sept. 7 – Korea Housing Finance Corp. will be starting investor meetings for a benchmark offering of euro-denominated social covered bonds (Aaa/AAA) on Monday, according to a market source.

The tenor has yet to be set, but the company is exploring either four-year or five-year bonds.

Backing will come from Korean residential mortgages.

The deal will be a drawdown on the issuer’s $15 billion global covered bond program.

BNP Paribas, ING, Natixis, Standard Chartered Bank and UBS Investment Bank will be working as joint bookrunners and joint lead managers.

Landesbank Baden-Wurttemberg is working as a co-manager.

The housing finance company is based in Seoul, South Korea.

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