Hana Bank pulls dollar deal, turns to local markets
Hana Bank will attempt to fund itself through Asia’s local currency markets for the rest of the year, after scrapping a plan to sell a lower tier two bond to global investors. The bank had hoped to refinance a $400m deal in the dollar market, but instead turned to domestic investors for capital, said a funding official.
The South Korean bank was hoping to sell a lower tier two bond in the global market this month, raising enough money to refinance $400m lower tier two bond which it called on September 14. But Hana Bank sold a W430bn ($365.9m) LT2 in its domestic market instead.
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