South Korea

Nomura has hired Jin-goo Kim as head of debt capital markets for Korea.

Shinhan Financial Group Co’s debut dollar Basel III additional tier one (AT1), priced on Tuesday, sparked a debate between Asian bankers, analysts and investors. The deal was rare, being issued through the bank’s holding company rather than using the opco structure which is much more common in Asia. That left many wondering what premium, if any, issuers must pay for holdco deals, writes Addison Gong.

Shinhan Financial Group Co on Tuesday issued its debut dollar Basel III additional tier one deal at the holding company level, becoming one of the very few Asian issuers to have done so. But bankers, analysts and investors were split on whether and how much the holdco premium was because of a lack of precedents in Asia.

South Korean internet provider SK Broadband Co. hit the dollar bond market on Monday, taking advantage of the stable backdrop for a $300m trade.

It’s not easy being green, but some bond issuers are finding it easier to be sustainable. Global issuers have embraced green bonds, using the funds raised to benefit environmentally-friendly projects. But as more issuers and investors look to align their finances with socially responsible investment options, some issuers are finding the green label to be limiting. Welcome the sustainability bond, writes Morgan Davis.

Lotte Property and Development Co debuted in the sustainable bond market on Tuesday with a floating rate three year note. While the sustainability label drew some attention to the $200m transaction, it was the issuer’s Kookmin Bank guarantee that swayed investors.

South Korea’s Woori Bank returned to the debt market on Monday, raising $300m from a Basel III-compliant tier two bond.

Asian bond issuers are ready to continue the success they enjoyed last week, unveiling dollar transactions in a market that appears to have received a new lease of life. But bankers still express doubts about how long the good times will continue.

Industrial Bank of Korea has sold its first social bond, but only after months of waiting for the market to calm.

South Korea’s steel company Posco returned to the dollar bond market on Wednesday, breaking a seven year hiatus. It easily locked up a $500m trade after investors lapped up the rare notes.

South Korean short-haul carrier T’way Air is set to raise W233.6bn ($207.1m) after pricing its IPO below guidance.

Nonghyup Bank returned to the dollar market on Monday, making the most of an improvement in investor sentiment. The South Korean bank was able to price its new bond with little to no new issue premium.