Hanhwa Construction was unable to price its A- papers worth 100 billion won ($81 million) after it failed to gather bids from institutions in a book-building session, Maeil Business News Korea reported.

The South Korean builder offered 100 billion won worth of debts in two tranches – two-year bonds at a yield band of 3.1% to 3.6% and three-year maturity in a band of 3.6% to 3.9%, on Friday. 

It is the first time corporate debts have been completely shunned by institutions since Daishin F&I Co. offering in 2015.