Korea's LH raises $56.1M in debut 15-year euro private placement
What's the deal? Korea Land and Housing Corporation (LH)Dealroom has a profile for this one. Try Dealroom → has raised €50 million (about US$62.5M, or roughly $56.1 million) through a 15-year euro-denominated bond, finalised on October 21. After a currency swap, the won-equivalent cost came to 4.297% — 10 basis points below comparable domestic won bonds.
Why it's notable: The tenor is the standout feature. Euro private placements typically run three to five years, and LH says this is the first 15-year euro private placement by a Korean issuer. The longer maturity helps the agency spread out its repayment needs.
What's the money for? Proceeds will fund LH's core policy work. "We plan to use the bond proceeds for LH's key policy projects, such as public housing construction, to expand housing supply," an LH official said.
What's next? LH plans to pursue a US dollar public bond issuance this month, extending a strategy to diversify funding currencies and lengthen its maturity profile. The agency has already tapped Australian-dollar, yen, and Canadian-dollar markets.
Why now? The deal follows LH's €500 million public bond in November 2025 — its first euro public issue — which drew orders 2.2 times the amount offered. That demand gave the agency room to push into longer, more specialised structures.
The signal: At $56.1 million, this is a modest, targeted raise rather than a major capital event. But the 15-year euro placement shows LH testing how far it can stretch tenor and currency diversity — a template other Korean issuers may follow as they court a broader global investor base.
Read more: biz.chosun.com
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