Korea Housing to market four-year euro-denominated social covered bonds

By William Gullotti

Buffalo, N.Y., March 29 – Korea Housing Finance Corp. (Aa2/AA/AA-) intends to market an offering of euro-denominated social covered bonds with a four-year tenor, according to an announcement on Wednesday.

The Regulation S, Rule 144A and 3c7 social covered bond offering (ICMA secured social collateral bond) will be a drawdown from the company’s $15 billion global covered bond program and backed by Korean residential mortgages.

The company has mandated BNP Paribas, Citigroup, HSBC, ING and Standard Chartered Bank as joint lead managers and joint bookrunners for the deal.

The deal itself is expected to be rated Aaa by Moody’s Investors Service and AAA by S&P Global Ratings.

The housing finance company is based in Seoul, South Korea.

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