South Korea

LG Display has hit the market with a convertible bond of up to $700m, according to a term sheet seen by GlobalCapital Asia.

Shinhan Financial Group has deepened its sustainable funding pool, raising $500m from a bank capital deal that was appealing to investors.

Hanwha Energy USA Holdings Corp’s green bond attracted more than $2bn of orders on Tuesday, allowing the borrower to close the $300m trade with no new issue premium.

Korea Western Power Co (Kowepo), the power supplier owned by state-backed Korea Electric Power Corp, sold $300m of three year notes on Monday, riding on strong demand from sovereign wealth funds and central banks.

The Korea Exchange has temporarily banned NH Investment & Securities (NHIS) and Korea Investment & Securities (KIS) from sponsoring growth-track IPOs in the country until November 2020, according to multiple sources close to the situation.

Korea Gas Corp (KoGas) became the first South Korean corporate to sell 10 year sustainability bonds on Tuesday, raising $500m. The country’s issuers are leading the way across Asia in selling environmental, social and governance debt.

Posco, the South Korean steel firm, has sold its first sustainability bond, raising $500m and attracting investors to its solid investment grade credentials.

Korea Development Bank (KDB) tapped the green investor base in Europe for its latest euro bond, achieving a record low funding cost and an unprecedented 0% coupon for a South Korean issuer.

South Korea’s green and sustainable bond market is thriving this year. The country is already streets ahead of its peer China, with its sovereign printing a green deal and issuers embracing new twists on these financings. That forward-thinking mentality is just the beginning.

The blossoming green bond market in Asia is showing no signs of stopping, with a recent boom in issuance also seen in sustainability-linked bonds. As issuance for environmentally and socially conscious debt gathers momentum globally, Asia is fuelling the fire. Morgan Davis reports.

South Korea’s Kookmin Bank has sold its maiden dollar-denominated Basel III compliant additional tier one bond, opting for a sustainability label to entice investors.

The Export-Import Bank of Korea (Kexim) sealed a $1bn transaction on Tuesday with a combination of floating and fixed rate notes, on the back of a nearly seven times subscribed deal at its peak.