NH Bank Hong Kong Branch Issues US$50 Million in Global Bonds

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[Financial News] NongHyup Bank (NH Bank) announced on the 13th that its Hong Kong branch has successfully issued a US$50 million (about 72.5 billion won) global bond.
This is the first case in which an overseas branch of NH Bank has independently issued bonds in the capital market of its host country by leveraging its local network.
The bond has a one-year maturity and a floating interest rate tied to the Secured Overnight Financing Rate (SOFR) plus 42 basis points. The funds raised will be used to support Korean companies expanding overseas and to finance overseas infrastructure project finance (PF) deals.
Crédit Agricole acted as the lead manager for the bond issuance.
An NH Bank official said, "This marks an opportunity to diversify our foreign currency funding model, which has been centered on the head office, into the global market," adding, "The Hong Kong branch will strengthen its role as a global funding hub."
stand@fnnews.com Seo Ji-yoon Reporter