China

The Export-Import Bank of Korea (Kexim) launched its first Thai baht issue yesterday (Thursday), selling a Bt3.5bn ($104m) deal split between three and 10 year tranches, while Cargill geared up for a debut.

Kookmin Bank may become the first South Korean issuer to sell covered bonds, the bank’s chief financial officer said this week. The plan comes after the country’s Financial Services Commission (FSC) gave a push to borrowers in the country to raise money in covered bond format.

Malayan Banking sold S$600m of perpetual bonds on Wednesday to boost its regulatory capital, turning to the Singapore market after having been forced to abandon a Malaysian ringgit deal in June.

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Bank of Communications (BoComm) completed its debut renminbi-denominated bond in Hong Kong yesterday (Thursday) after the books closed an impressive 7.8 times oversubscribed.

South Korean oil company GS Caltex raised about $480m in Korean won and US dollar domestic bonds on Tuesday (July 22), only a month after selling a $300m global dollar deal.

Beijing North Star, the Chinese property developer, sold a Rmb1.7bn ($249m) domestic bond on Friday (July 18), drawing orders from both retail and institutional buyers in a rare corporate bond from China’s cash-strapped property sector.

Bank of Communications is to become the fourth issuer to sell renminbi-denominated bonds in Hong Kong, after opening the retail offering of a Rmb3bn ($440m) deal this week.