South Korea

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.

Foreign central bank action sparked arbitrage opportunities in Swiss francs to shrink in 2020, so investors took a more domestic approach. As foreign issuance dries up, so too do Swissie mandates for international desks. Frank Jackman reports.

ESR Kendall Square real estate investment trust is set to debut on South Korea’s main board this month, having wrapped up the final stage of a W357bn ($329m) IPO.

South Korea-based ESR Kendall Square is set to launch a W357.3bn ($320.3m) IPO for its real estate investment trust (Reit).

South Korea’s Kookmin Bank used a Covid-19 sustainability bond label for its $500m bank capital deal on Wednesday.

Korea Land & Housing Corp has broken a six-year absence from the dollar debt market to raise $300m from a social bond.

Krafton, a popular South Korean video game developer, has mandated banks for its 2021 IPO.

Korea Development Bank took $1bn from a dual tranche transaction on Monday, using a social label for one portion of the bond to attract a new group of investors.

Shinhan Card Co ended a long hiatus from the dollar bond market on Tuesday as it joined a number of other South Korean borrowers which have turned to the debt market to raise Covid-19 relief funds.

Woori Bank is set to make its Kangaroo bond debut, seeking to tap the Australian dollar market to fund its coronavirus response.

The share price of Doosan Fuel Cell Co, a subsidiary of South Korean conglomerate Doosan Group, nosedived on Tuesday after affiliates of the parent raised a smaller-than-expected W198.6bn ($171.1m) from a block trade.