KNHC raises $750 million with five-year bond

Korea National Housing Corporation KNHC yesterday joined the long list of Korean borrowers to tap the international capital markets this year, when it raised $750 million from a Reg-S five-year deal. It was the state-owned agency's first US dollar offering since late 2006.

KNHC is the first Korean issuer out of the blocks after a brief summer lull further deals are expected from Export-Import Bank of Korea this would be its third issue this year, Korea Expressway, Korea Railways and National Agricultural Cooperative Federation NACF.

Korea National Oil Corporation and Woori Bank raised $1 billion and $800 million respectively at the end of July. Since then, deals have been...