Citi supports Hana Bank's first $100 mil. digital bond issuance

Citi has played a key role in Hana Bank's inaugural $100 million digital bond issuance, acting as the issuing and paying agent on Euroclear's Digital Financial Market Infrastructure (D-FMI) platform. This transaction represented a first for a Korean bank, as it was the first instance of a foreign-currency bond being issued on the platform and settled on the same day, known as T+0 settlement.

Notably, the bond also became the first digital bond to be listed on the Singapore Exchange. Citi coordinated all aspects of the issuance, settlement and delivery of the digitally native notes (DNN) to the dealer for distribution to investors via Euroclear's settlement bank. This deal further solidifies Citi's growing footprint in the digital debt space, as the lender has served as the issuing and paying agent for the majority of transactions executed on Euroclear's D-FMI platform thus far.

Dirk Jones, head of Issuer Services at Citi Services, highlighted the commercial scale Citi is building in digital debt markets, noting that this is a significant milestone in supporting transactions across diverse issuers and markets globally.