Hana Bank announced on June 10 that it had successfully issued $600 million in Environmental, Social and Governance (ESG) bonds to help support vulnerable and eco-friendly projects..
Hana Bank’s ESG bonds are US dollar public offering bonds issued in about two years and six months after the $600 million public offering bonds were issued in the form of a combination of green bonds and social bonds in January 2019.
Citigroup Global Market Securities, Credit Agricole, HSBC, MUFG and Standard Chartered Bank jointly issued bonds. The bonds were given “A1” and “A+” ratings by international credit rating agencies Moody’s and S&P Global Ratings, respectively.
The dollar-denominated bonds will mature in five years and six months, and carry an annual interest rate of 1.25 percent.
“The funds will be used for eco-friendly projects in Korea and overseas and projects to support vulnerable groups,” a Hana Bank official said.
“We will continue to raise funds through ESG bonds in order to actively practice ESG management in the future.”
In January, Hana Bank became the first Asian bank to issue 500 million euros worth of foreign currency social covered bonds.
Hana Financial Group is actively pushing for ESG Finance by pushing for a total of KRW 60 trillion by 2030, zeroing carbon emissions by 2050, and announcing the establishment of an ESG dedicated organization.
Source Korea IT Times