Kookmin to debut with euro covered bond as supply scarcity looms

KB
By Bill Thornhill
06 Jul 2020

Kookmin Bank is expected to surface later this week with its first euro covered bond which will fund social housing. The deal is to emerge amid mounting concern that diminishing supply, rising redemptions and aggressive central bank buying will cause an unprecedented technical squeeze in the covered bond market.

The Korean lender completed a covered bond roadshow last week and is expected to surface later this week with its first euro denominated covered bond through bookrunners BNP Paribas, Citigroup, Crédit Agricole, JP Morgan, HSBC and Société Générale.

The issuer is planning a five year deal that will ...

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