South Korea

The Export-Import Bank of Korea has returned to the offshore renminbi (CNH) bond market after nearly three years, to take advantage of a recent rally in the CNH swap rate and investor demand for high quality Korean deals.

SK Holdings pocketed W1.12tr ($1bn) from a block trade of SK Biopharmaceuticals, but the deal hit the South Korean drug company’s share price hard, sending it tumbling more than 17%.

Korea Expressway Corp is in the process of hiring banks to lead a planned dollar bond transaction.

South Korean e-commerce firm Coupang is set for a multi-billion-dollar New York IPO — the first US listing from the country for a decade. The deal structure could appeal to other Korean start-ups, bankers said this week. Jonathan Breen reports.

Coupang, an e-commerce company, is planning a $1bn IPO in the US as it gets ready to become the first South Korean firm to list in New York in 10 years.

Asset management firm PGIM Fixed Income has hired Yong Duk Kim as a vice president for client advisory, a newly created position.

The Export-Import Bank of Korea got orders of nearly $6bn for a $1.5bn triple-tranche bond this week, showing the continuous appeal of deals from high quality credits.

Hyundai Capital Services used the green label on its dollar bond to its benefit when hitting the market on a relatively volatile day, managing to find about $4.75bn of demand for a $600m transaction.

Hyundai Heavy Industries Co is planning an IPO later this year in South Korea. It is looking to raise W1tr ($905.5m) to invest in new technologies.

Solid demand from investors for Woori Bank's sustainable bond on Monday allowed the South Korean borrower to price its $550m deal at an ultra-tight spread.

SK Battery America sold a $1bn green bond this week, overcoming hurdles involving concerns about recent downgrades, and a legal battle with a competitor. Morgan Davis reports.

Government-owned Korea Southern Power Co marketed a green bond to dollar buyers on Wednesday, netting $450m from the trade.