- Samsung Life Insurance, South Korea's biggest life insurer, sold $1.5 billion of subordinated notes at a 6.875% coupon, below initial price thoughts in the 7% area.
- The deal was the insurer's debut dollar bond and a record for South Korean life insurers, exceeding Hanwha Life Insurance's $1 billion debt sale last year.
- Some high-grade borrowers are completing issuance during credit market turmoil while other issuers have postponed plans.
Quotes
“It was the company’s debut dollar bond and was a record amount for life insurers in the country”