Hana Bank Issues US$600 Million Sustainability Notes

June 21, 2021

Seoul – Paul Hastings LLP, a leading global law firm, announced today that the firm, as the sole international legal counsel, has advised the initial purchasers on Hana Bank’s issuance of US$600 million 1.25% Senior Secured Sustainability Notes due December 2026. The proceeds from the offering will be used to support eco-friendly and social projects. Citigroup, Credit Agricole, HSBC, MUFG and Standard Chartered acted as joint bookrunners and joint lead managers, and Hana Financial Investment and KEB Hana Global Finance acted as co-managers in the transaction.

As the flagship company of Hana Financial Group, Hana Bank is a leading South Korean commercial bank engaged in a broad range of banking activities and services for individual, corporate and governmental customers. This issuance marks the second batch of ESG bonds by a South Korean company that Paul Hastings has advised on this year, following Hanwha Solutions’ issuance of US$153 million green bonds in April. The firm also advised on Hana Bank’s update of its US$10 billion global medium term note program, which was completed in May 2021, under which the ESG bonds were offered.

Paul Hastings’ leading Korea practice has advised on several landmark capital markets transactions in recent years, including Kakao Corp.’s US$1 billion GDR offering, ING Life Insurance Korea’s US$977 million IPO, Hanwha Systems’ US$345 million Korea IPO and Lotte Shopping’s US$285 million exchangeable bonds

The Paul Hastings team was led by Seoul partner Iksoo Kim, with support from associate Sye Myung Kim, corporate attorney David Park and paralegal Margaret Lee.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.

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