South Korea

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.

SK Battery America, a subsidiary of South Korea's SK Innovation Co, found outstanding response for its green dollar bond on Tuesday. The firm was able to tighten pricing by 45bp, with the notes trading even tighter in the secondary market.

Korea’s KEB Hana Bank attracted a €2bn order book for its €500m debut covered bond on Tuesday, boosting hopes for an improvement in the secondary market performance of similar deals from South Korea that offer outsized spread pickups.

SK Hynix was overwhelmed with investor demand for its triple-tranche dollar deal on Wednesday. It raised $2.5bn, but non-stop demand drove the bonds nearly 20bp tighter in the secondary market on Thursday.

Korea Development Bank returned to the bond market on Monday with a three-tranche transaction, marketing one of the notes with a green label. Despite pricing its trade at one of the tightest levels seen among the country’s lenders, the borrower still received strong demand.

KEB Hana Bank (KHB) of South Korea has set up a covered bond programme and, given the strength of market conditions, there are high hopes that a deal will be mandated soon.

A group of shareholders in Doosan Fuel Cell, a subsidiary of Korean conglomerate Doosan Group, raised W274.35bn ($253m) from a clean-up trade in the company’s stock on Tuesday night.