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

Citi has supported Hana Bank’s first $100 million digital bond issuance on Euroclear’s Digital Financial Market Infrastructure (D-FMI) platform, serving as issuing and paying agent, the global lender said Wednesday. The transaction marked the first time a Korean bank issued a foreign-currency bond on the platform and settled it on the same day, known as T+0 settlement, according to Citi. The bond also became the first digital bond listed on the Singapore Exchange. Citi coordinated issuance, settlement and delivery of the digitally native notes (DNN) to the dealer for distribution to investors through Euroclear’s settlement bank. The deal adds to Citi’s digital debt business. The lender said it has acted as issuing and paying agent for most transactions completed to date on Euroclear’s D-FMI platform. “Citi’s role in Hana Bank’s landmark issuance reflects the commercial scale we are building in digital debt markets, having supported similar transactions across diverse issuers and markets globally,” said Dirk Jones, head of Issuer Services at Citi Services. “This is a f