Korea Land & Housing Corporation (LH) said on the 15th that it successfully issued 100 million Swiss franc bonds (about 188.2 billion won) in the Swiss financial market.
This issuance is the first case this year among domestic corporations, a result achieved despite heightened uncertainty in global financial markets due to rising risks in the Middle East.
In particular, in the Swiss franc market, where risk-averse investors account for a large share, LH secured overseas investor demand for its bonds based on consistent market access and high corporate credibility, successfully completing the issuance.
The pricing date was Apr. 10, with a 3-year maturity, and the coupon was set at 43 basis points (1 bp = 0.01 percentage point) over the 3-year CHF midswap. BNP Paribas was the sole bookrunner.
LH has worked to raise foreign currency across various currencies by attracting high-quality new investors in Europe. In Nov. last year, it also succeeded in a euro public offering (500 million euros, about 850 billion won), the first among Korean quasi-policy financial institutions in 12 years since 2013.
Oh Dong-geun, LH's head of finance, said, "LH will continue to actively attract high-quality new overseas bond investors and diversify funding sources to secure a stable foundation for promoting policy projects."