Hanwha Life Insurance Secures Orders Over Eight Times Target for Overseas Hybrid Capital Securities
Hanwha Life Insurance announced that it secured orders exceeding $8.8 billion, more than eight times its target amount, in the demand forecasting for its overseas hybrid capital securities issuance worth $1 billion (approximately KRW 1.365 trillion).
Hanwha Life Insurance explained that a large number of leading global investment institutions, including sovereign wealth funds, participated in this demand forecasting. The credit spread was reduced by 45 basis points (1bp = 0.01 percentage points) compared to the initially suggested rate, with the final issuance rate set at 6.3% per annum.
Hanwha Life Insurance plans to use the entire proceeds to strengthen its capital adequacy by improving its risk-based capital (K-ICS) ratio. The issuance date is scheduled for June 24, 2025.
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Hanwha Life Insurance stated, "We have strengthened our external credibility through the successful execution of call options on both domestic and overseas issued securities. Recently, we have also demonstrated solid fundamentals by receiving credit rating upgrades from global credit rating agencies Moody's and Fitch."
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