Northeast Asia

Kookmin Bank issued the first sustainability bond from a South Korean financial institution on Tuesday, raising $300m from a deal that was covered more than six times.

Mongolia received a huge vote of confidence from investors on Tuesday, when the Development Bank of Mongolia raised $500m from a bond that received orders exceeding $4bn at its peak. The country’s turnaround story and the issuer’s savvy around execution helped cement the transaction.

Studio City International Holdings priced its debut on the New York Stock Exchange (NYSE) at the top of its marketing range on Thursday, raising $359.4m.

Chinese privately-owned borrowers should be prepared to cough up higher margins and offer tighter covenants for their syndicated fundraisings as trade tensions between the Mainland and the US escalate.

China is about to find out if it can build a bridge to European liquidity, with Qingdao Haier set to close the first IPO of D-shares in Frankfurt. The debut of the China Europe International Exchange (Ceinex), along with another much talked about equity link to London, will be a key test of whether Chinese issuers can tap new sources of funding abroad. John Loh reports.

Investment managers have plenty of work to do to shift global investors’ sentiment on China, Ashley Dale, head of business development at Harvest Global Investments (HGI), tells GlobalRMB.

Red chip company China Power successfully raised Rmb2bn ($288m) this week, the second Panda deal in the energy sector this year.

China may have returned to the dollar bond market at a difficult point last week, but the sovereign still has a way to go before its notes become a real benchmark for the country’s debt issuers.

Alan Roch has joined Standard Chartered in Hong Kong as head of bond syndicate for Asia.

Deutsche Bank has hired former Standard Chartered banker Erick Pan as head of syndicated loans for north Asia.

Chinese state-owned enterprise (SOE) Shandong Gold Group Co achieved size with its three year outing on Monday, raising $600m. Another government-linked entity in the province, Weifang Urban Construction and Development Investment Group Co, debuted in the offshore market with a $250m trade.

Korea Development Bank hopped into the Australian dollar market on October 12, selling an A$400m ($284m) Kangaroo bond. Despite the volatility in the market earlier in the week, KDB had little trouble sealing the popular deal.