South Korea

JP Morgan’s private equity arm has bagged W390.7bn ($327.5m) after selling a chunk of shares in South Korean firm Celltrion Healthcare, according to a source close to the deal.

South Korean company SK Biopharmaceuticals is planning to launch an IPO by the end of 2019 and could net proceeds of up to around W1tr ($838.5m), according to a source close to the deal.

MSCI has poached Tay Kim from Franklin Templeton Investment Trust Management to lead client coverage for the firm in South Korea.

Korea Railroad Corp turned west on Monday, marketing a six year bond to Swiss investors.

Woori Bank turned to Taiwan this week for its latest dollar transaction, raising $450m from the first sustainability-labelled Formosa deal.

With South Korea and the Philippines heading to euros for new bond transactions, more issuers from Asia should take courage and consider funding in the needlessly neglected currency.

Just two Asian borrowers visited the international debt market on Monday, raising nearly a combined $800m ahead of the public holiday on May 1.

Shinhan Bank of South Korea managed tight pricing on its Basel III-compliant tier two deal on Monday. Investors overwhelmed the $400m transaction with orders that covered the book more than seven times at its peak, thanks in part to its rare 10 year tenor but also as a result of its status as Asia’s first dollar-denominated UN Sustainable Development Goals-linked bond. Morgan Davis reports.

South Korea’s Shinhan Bank sold Asia’s first dollar-denominated UN Sustainable Development Goals-linked bond on Monday, raising $400m from the Basel III-compliant tier two deal.

Asian investment grade issuers returned to the market in droves this week, giving some welcome supply to investors who have been overwhelmed by high yield names since the start of the year. But the surge is likely to be short-lived. Addison Gong reports.

LG Chem, the chemical and battery producing arm of South Korean group LG, launched its first euro and dollar bonds this week, after a long sojourn in the won market. All three tranches, which were also green bonds, were heavily oversubscribed.

Stricter financial disclosure rules, a corruption scandal and a global equity market selloff derailed what should have been a big year for South Korean IPOs last year, leading to three of the biggest transactions being postponed. There are reasons for hope, but the country must overcome some serious structural challenges. Aidan Gregory reports