Koreans defy QE fears to test pricing prospects as investors seek premiums

The absence of dollar bonds from screens in Asia ex-Japan this week did not stop Korean issuers from mandating banks and arranging investor meetings. Their goal is to be ready to launch deals the minute that there is a window of opportunity, writes Frances Yoon.

  • By Rashmi Kumar
  • 13 Jun 2013

Kookmin Bank is one of those. It wants to sell its second dollar bond of the year, even though its $300m three year bonds are trading 40bp wider than when they priced in January 9. The bonds were issued at 105bp over US Treasuries. 

“Kookmin wants to print ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jul 2017
1 JPMorgan 94,526.81 410 7.15%
2 Bank of America Merrill Lynch 82,157.13 378 6.22%
3 Citi 78,017.43 388 5.90%
4 Barclays 62,596.22 268 4.74%
5 Deutsche Bank 60,332.59 249 4.56%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 BNP Paribas 18,886.68 80 9.00%
2 Barclays 16,575.05 61 7.90%
3 Deutsche Bank 15,098.70 57 7.20%
4 HSBC 12,906.84 56 6.15%
5 SG Corporate & Investment Banking 12,165.97 62 5.80%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 5,095.99 40 8.35%
2 Goldman Sachs 4,273.93 33 7.01%
3 Deutsche Bank 4,159.17 38 6.82%
4 Credit Suisse 3,915.70 42 6.42%
5 Barclays 3,740.83 31 6.13%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 21,273.54 160 11.24%
2 Citi 17,526.81 129 9.26%
3 Bank of America Merrill Lynch 15,607.84 134 8.24%
4 Goldman Sachs 13,221.26 95 6.98%
5 Barclays 13,207.72 84 6.98%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 BNP Paribas 17,949.66 81 6.87%
2 Deutsche Bank 17,622.26 57 6.74%
3 HSBC 16,803.90 77 6.43%
4 Barclays 16,166.69 72 6.19%
5 Citi 15,341.21 64 5.87%