South Korea

South Korean steel company Posco made a blockbuster return to the debt market on Monday, raising $940m from dollar investors and €500m from the European market. The peak order book of about $5.75bn for the dollar portions reflected investors’ eagerness to take on investment grade risk.

Ten more Asian issuers rushed to the dollar bond market on Monday, further adding to the record debt issuance seen in the region last week.

South Korean credit card company Hyundai Card has put together a syndicate team for its IPO, which is expected to value the company at around $2bn.

Lagos-headquartered multilateral finance institution Africa Finance Corporation (AFC) signed a $140m-equivalent syndicated Kimchi term loan facility with Shinhan Bank — its first Korean-focused tool, as the bank diversifies its funding sources.

South Korean heavy industry company Doosan Infracore Co sold a $300m three year bond on Tuesday, helped along by a guarantee from Korea Development Bank.

South Korean steel company Posco checked every box for investors with its $500m bond issuance on Monday. Even though the deal offered no new issue premium and pricing was tightened aggressively, buy-side support did not waver, said bankers.

South Korean defence and information technology firm Hanwha Systems priced its IPO at the bottom of the range on Friday after a poor showing from investors at home and abroad, according to a source close to the deal.

It's no secret that tensions between North and South Korea are always simmering. But it is still a bit shocking to be confronted with the possibility that a potential disaster is right on your doorstep.

Hyundai Capital America has priced a $800m three year bond alongside a $700m seven year, raising more than expected from its latest outing.

South Korean mattress maker Zinus has raised W211.4bn ($180.6m) from its IPO after pricing the deal below the marketed range, according to a source familiar with the matter.

Industrial Bank of Korea (IBK) raised $600m on Wednesday from a combination of fixed and floating rate notes.

A real estate investment trust backed by conglomerate Lotte Group has raised W430bn ($362.1m) in South Korea’s largest public Reit listing.