Investors rush to safety of KHFC covered bond
Korea Housing Finance Corp successfully navigated volatile debt markets to price a $500m covered bond on Monday, after investors flocked to the security of the Korean issuer’s credit and collateral.
KHFC priced the December 2016 issue at 218bp over five year Treasuries in New York trading hours at the tight end of final guidance of 220bp, plus or minus 2bp after the issuer received positive feedback from investors on initial price talk around the 225bp area.
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