Paul Hastings Advised Joint Lead Managers On Hanwha Life Insurance’s US$1 Billion Tier II Subordinated Capital Securities Issuance

Paul Hastings Advised Joint Lead Managers On Hanwha Life Insurance’s US$1 Billion Tier II Subordinated Capital Securities Issuance

Paul Hastings LLP acted as international counsel to the joint lead managers in connection with Hanwha Life Insurance Co., Ltd.’s issuance of US$1 billion 6.3% Tier II subordinated capital securities.

The offering was conducted in reliance on Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended, and the securities were listed on the Singapore Exchange Securities Trading Limited (SGX-ST). The securities will pay a fixed interest rate of 6.3% for the first five years, subject to certain exceptions, and the rate will be reset every five years unless the issuer redeems the securities.

The joint lead managers were Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch International, and Morgan Stanley & Co. International plc.

Founded in 1946 as Korea’s first life insurer, Hanwha Life Insurance is now one of the “Big Three” life insurers in Korea, measured by total assets and total gross premiums.

The Paul Hastings team was led by Iksoo Kim (Partner, Corporate), with support from Sye Myung Kim (Associate) and David Park (Corporate Attorney).

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