Hana Securities has issued $300 million in U.S. dollar-denominated hybrid capital securities, marking the first deal of its kind by a South Korean brokerage. The 30-year notes can be called after five years, a 30NC5 structure, and received a BBB rating from Standard & Poor's. More than 120 institutional investors worldwide submitted $1.7 billion in orders, roughly six times the offering size. The securities carry a 6.50% annual coupon, equivalent to 169 basis points above the five-year U.S. Treasury yield, with one basis point equal to 0.01 percentage point. Strong demand enabled Hana Securities to price the offering 30 basis points below its initial guidance. The firm said the issue strengthens its capital adequacy by adding funds recognized as capital and broadens its foreign-currency funding beyond dollar bonds. It plans to use the capacity for global investment banking, venture capital supply, other business expansion and productive finance. The transaction follows Hana Securities' first overseas public offering of Korean paper in 2024 and last year's $300 million dollar-bond issue, which received an A- rating from S&P and attracted orders exceeding 11 times the offering amount.