HF Celebrates its Covered Bond Issuance Overseas

Financial Services Commission (FSC, Chairman Eun Sung Soo, front row, fourth from left) and Korea Housing Finance Corporation(HF, CEO Choi Joon Woo, front row, third from left) held a ‘Euro Covered Bond Signing Ceremony’ on July 7, at the Westin Josun Hotel Seoul, Junggu, Seoul, with attendees from joint-lead managers and other related institutions.  

Around fifty participants from five global investment banks, three law firms, one entrusted bank and an accounting firm joined the celebration of HF covered bonds* issuance overseas. 

*High quality bonds that come with both mortgage loan guarantees and recourse right to the issuer(HF).

HF has successfully issued negative yielding one billion euro covered bonds in two consecutive years, securing funding for public mortgages such as Bogeumjari loans with more affordable rates to support first homeownership of low-to-moderate income households.

HF CEO Choi said, “HF will gradually expand the size of covered bond issuance overseas from next year to enhance public roles of HF in lowering residential costs of non-homeowners. In addition, we will further strive to improve the household debt structure toward long-term, fixed-rate loans.”