Kookmin pays tiny NIP for first euro social

By Bill Thornhill
08 Jul 2020

Kookmin Bank has priced its debut euro covered bond flat to where its higher rated compatriot, Korea Housing Finance Corporation (KHFC) would have been expected to come. The deal was said to have attracted additional demand due to its social theme, spurring hopes that further similar issuance would follow.

After mandating leads for a virtual roadshow held last week, Kookmin Bank opened books on Wednesday for a €500m five year covered bond through joint leads BNP Paribas, Citi, Crédit Agricole, JP Morgan, HSBC and Société Générale.

After one hour, more than ...

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