Kookmin Bank, South Korea’s largest lender by asset value, met with strong demand for its latest sustainability bond sale as investors showed support to Seoul’s call to raise funds to support growth of inclusive businesses.
The AAa3 rated lender was able to secure a whopping $2.7 billion of demand for the perpetual non-call five Additional Tier 1 bond despite a more dovish stance indicated by the US Federal Reserve a few days ago. Based on the final deal size of $500 million, the order book was over five times subscribed.
To a large extent, the new Reg S144A deal was supported by its two...
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