Housing Finance Corporation Wins Asia's Best Covered Bond Award for 3 Consecutive Years

[Asia Economy Reporter Kim Hyo-jin] Korea Housing Finance Corporation announced on the 22nd that two euro-denominated social covered bonds it issued this year were selected as the ‘2020 Asia Best Social Bond Award’ and the ‘Asia Best Structured Bond Award’ by the global financial magazines ‘The Asset’ and ‘Global Capital,’ respectively.

The Asset, a financial information magazine specializing in the Asia-Pacific region, highly evaluated the corporation for successfully raising policy mortgage funds to stabilize housing for low-income households by issuing the first-ever euro-denominated covered bond with a negative interest rate outside Europe (1 billion euros, 5-year maturity) in February. Additionally, Global Capital, a global financial information magazine, recognized the corporation for issuing the first COVID-19 response social covered bond in Asia (500 million euros, 5-year maturity) in July following the COVID-19 pandemic, selecting it as an award recipient.

With this award, the corporation has received The Asset’s Asia Best Covered Bond Award for three consecutive years since 2018 and, for the first time since issuing covered bonds in 2010, has been awarded Global Capital’s Asia Best Structured Bond Award.

Lee Jung-hwan, President of the Korea Housing Finance Corporation, stated, “Our efforts to pioneer the European market, the birthplace of covered bonds, and to expand the investment base have borne fruit, elevating our status as a leading covered bond issuer representing Asia.” He added, “Going forward, we will serve as a benchmark issuer of Korean covered bonds in the euro market, contributing to the activation of covered bond issuance in the banking sector.” Furthermore, he said, “By raising cheap, long-term funds overseas, we will also significantly contribute to reducing housing costs for low-income households in Korea.”

This content was produced with the assistance of AI translation services.