HeungKuk Life Insurance 4.475% 9Nov2047
USD bond idea:
HeungKuk Life Insurance 4.475% 9Nov2047
Cust price: 99.70
Yield to call: 4.54%
Call date: 9Nov2022
Coupon reset on 9Nov2022: US
5 years treasury yield (2.11) + 2.472%
Call date: 9Nov2027
Coupon reset on 9Nov2027: US
5 years treasury yield (2.11) + 3.472%
Thereafter coupon reset every 5 years based on US 5 years treasury yield + 3.472%.
Moody's: Baa3
Fitch: BBB-
AM: 60%
HeungKuk Life is a mid sized life insurance firm in South Korea providing a broad range of life policies and investment products to retail, retirement pension plans and institutional market segments.
For 1H2017 Heungkuk reported ROA and ROE of 0.45% and 8.87% respectively.
The hybrid is subject to mandatory distribution cancellation if the company is being designated as insolvent or management improvement recommendation by Financial Services Commission of Korea (FSC) or emergency measure imposed by FSC.
HeungKuk Life Insurance 4.475% 9Nov2047
Cust price: 99.70
Yield to call: 4.54%
Call date: 9Nov2022
Coupon reset on 9Nov2022: US
5 years treasury yield (2.11) + 2.472%
Call date: 9Nov2027
Coupon reset on 9Nov2027: US
5 years treasury yield (2.11) + 3.472%
Thereafter coupon reset every 5 years based on US 5 years treasury yield + 3.472%.
Moody's: Baa3
Fitch: BBB-
AM: 60%
HeungKuk Life is a mid sized life insurance firm in South Korea providing a broad range of life policies and investment products to retail, retirement pension plans and institutional market segments.
For 1H2017 Heungkuk reported ROA and ROE of 0.45% and 8.87% respectively.
The hybrid is subject to mandatory distribution cancellation if the company is being designated as insolvent or management improvement recommendation by Financial Services Commission of Korea (FSC) or emergency measure imposed by FSC.
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