South Korea's Chohung Bank to start roadshow for $400 million subordinated debt Wednesday

By Reshmi Basu

New York, Oct. 18 - Chohung Bank will start a roadshow for its $400 million offering of 10-year subordinated debt in Hong Kong on Wednesday, according to a market source.

The roadshow will move to Singapore on Thursday, London on Friday, and then finish off in New York on Oct. 25.

Pricing is expected to take place after the completion of the roadshow.

The proposed issuance will be split into lower tier II (expected Baa2/BBB-) and upper tier II notes (expected Baa2/BB+).

The notes are callable after the fifth year.

Citigroup and UBS Investment Bank are running the Rule 144A/Regulation S deal.

Chohung, based in Seoul, is a banking unit of Shinhan Financial Group.

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