While it is late in the year and what has felt like a long year, at that the Asian dollar market evidently still has legs, as demonstrated by a $500 million senior bond from Hana Bank, which got away early Thursday morning.
The Korean lender’s five-and-a-half-year benchmark is the first issue from a Korean commercial bank since July. A host of Korean quasi-sovereigns and policy banks such as Export-Import Bank of Korea, Korea Finance Corp and KDB have tapped the market during the past few months, but issuance from commercial banks has been thin, with Shinhan Bank’s $300 million bond in July the last one.
Rather fortuitously,...
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