South Korea

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.

One of Doosan Fuel Cell Co’s major shareholders is offloading its stake in the South Korean eco-friendly cell maker for up to $353m-equivalent.

South Korea is in the middle of an equity bubble. Investors are piling in at a rate not seen in the past decade, pushing stock valuations in secondary and primary markets far above realistic levels. Companies should make the most of this opportunity – it won’t last.

South Korea's Big Hit Entertainment, the talent manager behind globally-popular boy band BTS, has sealed the country’s largest listing in three years as investors continue to flock to Korea's IPO market.

Korean video game publisher Krafton has invited local and international banks to pitch for a spot on its IPO.

Big Hit Entertainment, the label behind hugely popular K-pop boy band BTS, this week launched bookbuilding for an IPO that will be worth as much as W962.6bn ($818.4m). The company is the latest to ride a wave of demand sweeping the country’s stock market, causing an over-heating that is pushing prices dangerously high, said bankers. Jonathan Breen reports.

Bangkok Bank sold its first Basel III-compliant additional tier one dollar bond on Tuesday, making it a rare bank capital offering from Thailand.

The Republic of Korea wowed investors in the dollar and euro markets on Wednesday, with a record $1.45bn-equivalent dual-tranche bond. The deal, split between 10 year dollar and five year euro notes, was priced at ultra-tight spreads — including a negative yield for the euro tranche. Morgan Davis reports.

The World Bank has selected a trio of banks for a new 15 year Sustainable Development Bond (SDB), its first euro benchmark of its 2020/21 fiscal year. Elsewhere, the Republic of Korea scooped €700m with its return to the euro market after a six year absence.