South Korea

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

SNK Corp is set to launch an IPO using depository receipts (DRs) on the Korea Exchange next month. It is eyeing up to W169.7bn ($149.7m) in proceeds, according to a term sheet seen by GlobalCapital Asia.

South Korea’s Homeplus Stores whipped the market up into a state of excitement over the last month as it lined up a real estate investment trust (Reit) the likes of which the country had never seen. Even more tantalising was the pipeline of large companies considering Reits of their own if Homeplus's offering went well. But it aimed too high and had to pull the deal, wrecking the party before it started.

Hyundai AutoEver Corp has raised W170.3bn ($150.3m) after pricing its IPO higher than the marketing range, thanks to a rush of demand, according to a source close to the deal.

South Korean supermarket chain Homeplus Stores has cancelled the potential W1.73tr ($1.5bn) IPO of its Homeplus Real Estate Investment Trust.

South Korean discount store chain Homeplus Stores is set to cash in on its properties as it readies a mammoth IPO for Homeplus Real Estate Investment Trust. The listing is being flagged by bankers on and off the deal as the spark needed to bring life to a languishing Korean Reit market. Jonathan Breen reports.

South Korean supermarket chain Homeplus Stores is nearing a $1.5bn real estate investment trust listing. The deal deserves attention in its own right. But it also serves as a stark reminder that Singapore, once the quintessential Reit listing venue in Asia, has fallen from grace.