NH Agricultural Cooperative Bank Successfully Issues $50 Million Global Bonds through Hong Kong Branch
[USER PARABOLA=Jung-hwan Choi, reporter] NH Agricultural Cooperative Bank Hong Kong Branch announced on the 13th that it successfully issued a global bond of 50 million US dollars (about 72.5 billion Korean won).
This global bond was issued with a one-year maturity and a variable interest rate of SOFR + 42bp, and the raised funds are planned to be used for supporting overseas expansion of domestic companies and overseas infrastructure PFs.
This bond issuance marks the first case in which the Nonghyup Bank's overseas branch independently issued bonds in the capital markets of the host country, utilizing its local network. This demonstrates that Nonghyup Bank's global localization capabilities have been further strengthened.
This global bond was issued with a one-year maturity and a variable interest rate of SOFR + 42bp, and the raised funds are planned to be used for supporting overseas expansion of domestic companies and overseas infrastructure PFs.Park Sang-wook, head of the Hong Kong branch of Nonghyup Bank, said, "The Hong Kong branch has created an opportunity to attract direct investors in the local capital market, diversifying the existing foreign currency funding model centered on the headquarters into the global market." He added, "In the future, the Hong Kong branch will strengthen its role as a hub for Nonghyup Bank's global funds."
The lead arranger of the bond issue is the French cooperative bank Credit Agricole.Live popular news articles
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