Korean Air attracted 463 billion won in orders for a 200 billion won unsecured bond offering, while NH Investment & Securities received 2.19 trillion won for an issue of the same size. Demand exceeded targets across both issuers, with additional interest rates set below the average market rate used by private bond pricing agencies. Korean Air drew 238 billion won for its 2-year tranche and 225 billion won for its 3-year tranche, against targets of 80 billion won and 120 billion won, respectively. NH Investment, rated AA+, attracted 670 billion won for its 2-year tranche, 1.18 trillion won for its 3-year tranche and 340 billion won for its 5-year tranche, against targets of 50 billion won, 120 billion won and 30 billion won. NH Investment is considering increasing the offering to as much as 350 billion won, while Korean Air is considering an increase to up to 300 billion won. The results underscore strong institutional demand for high-grade corporate bonds, although analysts said a deeper flight to quality could make funding more difficult for lower-rated issuers.