South Korea

Asian issuers are setting the stage for their fundraisings nice and early into the New Year, with South Korea’s Hanwha Total Petrochemical Co announcing a bond mandate on Wednesday morning.

As central banks retreat from public markets, spreads are widening in dollars and euros, and cross-currency basis swaps are improving for international borrowers, Swiss bankers believe the good times might be returning to a market once known the world over for diversification and arbitrage.

Samsung BioLogics resumed trading on Tuesday after its stock was suspended for almost a month, according to an announcement by South Korea’s stock exchange.

Kookmin Bank has issued the second Korean covered bond of this year but the first in dollars and its first in more than two years.

Doosan Bobcat’s largest shareholder has bagged W141.9bn ($126.5m) after trimming its stake in the South Korean heavy equipment maker.

Investors flocked to the Export-Import Bank of Korea’s (Kexim) $1bn bond on Monday, viewing the policy bank as a defensive credit to park their cash in.

A flurry of Asian bond issuers have ventured out in a bid to wrap up deals ahead of the Thanksgiving holiday in the US on Thursday, even as markets remain on shaky ground.

South Korea’s financial regulator has brought the hammer down on Samsung BioLogics, accusing it of intentionally overvaluing a subsidiary ahead of its W2.25tr ($2bn) IPO in late 2016.

LG Display Co unveiled its debut dollar bond on Wednesday, taking home $300m from a green-labelled deal.

South Korea’s financial regulator is planning a series of capital market reforms to loosen its grip on the IPO process, giving a much-needed boost to small and medium-sized companies looking to raise equity. Jonathan Breen reports.

Mirae Asset Daewoo Co became the first securities firm from South Korea to tap the international bond market this week, when it issued $300m on Wednesday.

Shinhan Bank used its position as the first dollar borrower in the market on Monday to lock up $500m, paying just a low single-digit new issue premium despite global volatility.