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Hyundai Capital sells Korea’s first public yuan kimchi bond
BusinessKorea Herald5mo ago

Hyundai Capital sells Korea’s first public yuan kimchi bond

Hyundai Capital said Thursday it has issued South Korea’s first publicly offered offshore yuan-denominated kimchi bond by a financial institution. The 660 million yuan ($95.6 million) notes carry a two-year maturity and a coupon of 2.2 percent. KB Securities acted as lead manager. Kimchi bonds are foreign-currency debt sold in Korea’s domestic capital market, allowing issuers to tap local investors for overseas funding. The deal marks the first public offering of a yuan-denominated kimchi bond.