Hana Bank headquarters in central Seoul (Yonhap)Major South Korean lender Hana Bank said Thursday it has floated $600 million worth of environment, social and governance (ESG) bonds to help support vulnerable and eco-friendly projects.
The dollar-denominated bonds will mature in five years and six months, and carry an annual interest rate of 1.25 percent, or the yield on five-year US Treasurys plus a spread of 0.55 percentage point.
ESG bonds are a type of sustainability debt offering aimed at financing corporate activities in environmentally friendly and sustainable projects.
Hana said the bond issuance has been co-managed by Citigroup Global Market Security, Credit Agricole, HSBC, Mitsubishi UFJ Financial Group and Standard Chartered.
Global credit appraisers Moody’s Investors Service and Standard & Poor’s Global Ratings (S&P) have given Hana’s ESG bonds “A1″ and A+” ratings, respectively, it added. (Yonhap)