One banker described Hanvit Bank as an “ambassador for Korea” after the successful raising of $850 million through a subordinated debt deal in February. As it turns out, Hanvit may be the ambassador for the entire region as international investors show new interest in the potential of the Asian markets.
The characteristics of the Hanvit deal demonstrate the risk international investors are willing to take in the Asian markets. Hanvit seriously suffered in the wake of Daewoo’s default, and it was among many Korean companies needing to rebuild capital.
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