Commentary & Deal Flow

IPTs: 3yr: SARON MS+43a

• Issuer: Korea Land & Housing Corporation
• Ticker: KOLAHO
• Issuer Domicile: Republic of Korea
• Issuer Rating: Aa2/AA/AA- (Moody's/S&P/Fitch)
• Instrument Rating (exp.): Aa2 (Moody's)
• Format: Public Fixed Rate Bond
• Ranking: Senior unsecured
• Life: 3yr
• Size: CHF 100m WNG
• Settlement Date: 23-Apr-26
• Maturity Date: 23-Apr-29
• Coupon: Ind. 0.6750% p.a. - will price at par
• Spread / Yield: SARON MS +43bps area // Ind. YTM 0.6750% // Govt. +67bps
• Lead Manager(s): BNP PARIBAS
• Listing: SIX Swiss Exchange as of 22-Apr-26
• SNB Repoeligibility: At the discretion of the SNB, expected yes
• Documentation: Issued under the US$7,500,000,000 Global Medium Term Note Program of the Issuer, as documented in the Offering Circular dated 24 October 2025 (including all annexes and documents incorporated by reference therein and all supplements thereto from time to time)
• Governing Law: New York Law
• FINSA Prospectus: Yes, delayed in accordance with art. 51 para. 2 Finsa
• Covenants: PP, NP, XA, CoC
• Min. Denomination: CHF 5,000 and integral multiples thereof
• Sales Restrictions: In particular, United States, EEA, UK, Korea, Japan, Singapore and Hong Kong and such other restrictions as may be required in connection with the offering and sale of the Notes.
• Target Market: As defined by the manufacturer domiciled in the EEA (MiFID II): Eligible counterparties, professional clients and retail clients in Switzerland only (all channels for distribution), subject to applicable selling restrictions
• Timing: Today's business. Books can close at short notice